BTC/USD Target $440

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
621 2 4
There appears to be a descending triangle , which if it breaks would put us at about a $440 price target.

RSI has lower lows and lower highs and is perfectly aligned with the MACD .

As you can see on 2014-06-24 the RSI made a new low, yet the MACD histogram did not, which signaled a potential reversal coming.

On 2014-07-29 RSI dipped to over-sold territory (good time for a bounce) and the MACD histogram made new lows as well (they are both in agreement for new lows coming). During this bounce Bitstamp made it to the 50% retracement and has since fallen.

Finally, the 3D and 1W MACD have all turned negative and are building downward momentum.
Nice call!
bwy timwest
Thanks, I appreciate that :)
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