Bitcoin
Short

BTC/USD Target $440

776
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.

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