Can LTC bounce back?

You can see two trend channels. The light blue circles (old channel) and the pink circles (new channel). As you can see we are testing the new channel. It might just be a fakeout but could continue its path and test the .236 fib. My guess is if its not a fakeout itll bounce off the 200day SMA (green line) before that happens.

*Not trading advice, just education*

Good Luck :)