gotta laugh.
guy sees a chart and starts drawing a red line.
the start point has no fixed reason
the angle has no fixed reason
th end point has no fixed reason
in short anyone can draw any line at any angle
it's a regression model, not a trend line.
https://en.wikipedia.org/wiki/Regression_analysisbut take this below
here the lines have meaning. the lows of where people refuse to sell below. lets call it the value line
most traders would consider the last couple weeks a bear flag. those local bottoms in the $7000s aren't established---you're just
hoping that will be the lowest we go. traders call it "hopium".