is this sustainable for the Nasdaq?

The last time the Nasdaq looked like this uh, ya know, bad stuff happened. Yes, I drew the current uptrend as if covid didnt happen, but its starting to jump back into that rising channel. With the markets being propped by stimulus, QE and the FAANG stocks, is it possible that tech stocks are overvalued? It currently is shaping up to look like the market did before the dot com bubble burst. Please, if this is the stupidest thing you've ever seen, tell me why. Im basically posting to see if anyone agrees or if everyone thinks Im on drugs. Enjoy??