Seems like a fairly randomly placed line to me. Bitcoin never falls below it and it is base on the 2 lowest points.
After the last boom, Bitcoin didn't touch your line. It could so easily be moved to $800.
that is a support line on a log chart. the fact that we are so far from it (like 400%-ish) is telling me it's overvalued.
i'm betting sometime in 2014 (like june/july) we'll skim it again
but this is all of course IMO. if i could predict the future i wouldn't be sharing it with anyone! haha, just looking for feedback, discussion, and ideas