Personal take on eth

POLONIEX:ETHBTC   Ethereum / Bitcoin
I wasn't going to publish this one since it's a personal chart but I'm doing it for a personal request from @puchbike.
So it's up to you to follow the advice or not :)

This is largely based on the previous drop from 24xx to 16xx. The soft support (thin red line) will be broken momentarily because it's too tempting to test the previous low, 1650. And it did something similar during the previous drop, so why not.

But it will bounce not until the hard resistance (bold red line) but a bit under it. that's ~1790. (Again, something similar in the previous one )

Then I think the real drop will start.

My previous target was 1300 but like I said, we spent too much time around 0.02xx so target is lowered because of the slope of the line. Now it's pointing to 1200.
Comment: Ok, didn't quite play out as I thought but the principles are intact I think.
Here's my update:


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