Now after seeing a bounce from 160 level where correction could potentially have come to an end, I have been watching this similar uptrend channel to the last bounce from the last wave down, which turned into a bearish triangle after giving us a look at an inverse head and shoulders pattern. Now we have a repeat for the most part in this bounce. Looks like an inverse head and shoulders, with breakout above 194/195 ish. and a target of 230. Will this inverse head and shoulders breakout and confirm the end of the correction? This 230 target makes great sense right now, and it does seem time for this correction to be over.. let us see what happens. in my opinion a break below the up channel I have lined out would be invalidation of the inverse H&S
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broken channel=more downside possible
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potential downside roadmap. just finding what looks like key supports
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target?
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if LTC can hold this black line, above 173$, then we can negate further downside targets and hold for more upside to 230. if LTC closes below 173, then the 140-150 targets are in play.
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the top of this channel connects back to the second 100 bottoming, just including this information because I find it interesting, and it helps to validate this as a potentially important channel
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also of interest is this down channel, the bottom of which was not tested by the recent low