I've never made a chart in my life. Does this line I drew mean anything?
...
its what we call the up trend, new line drawers are always told to zoom out before drawing lines, just zoom out and buy cheep coins. ...
Difference in language. I would call it the upper resistance limit of a downtrend. That means that if price goes above that line, either the downtrend is recalibrating to a shallower slope, or it is reversing into a new uptrend (or resuming the overall uptrend which dominates a longer timeline). If it punches above but sinks back below, it's a false breakout. If it continues to punch above, and a downward line of shallower slope coincides with multiple tops, it has recalibrated.
You can use historical data to estimate the relative probabilities of these scenarios, but they may or may not vary with other environmental factors.
I expected to be told that I would need another line somewhere. Doesn't a "channel" have to form somewhere to make this valid?




