Technical analysis by MAGICMARK about Symbol LTC on 7/31/2023

In 2 days we have a halving. Although prior LTC halvings have not produced all time highs ... they have spurred a local rally. This one seems to have fizzled out prematurely. But you have to ask, what was with all that volume several weeks ago that resulting in a 40% inter-day increase??? That is a lot of money, and what was the strategy there? I've identified a possible channel for the bullish scenario, and how a break to the bottom leads to a correction for LTC following the halving ... let's see. I hope there is still life in LTC. Not trading or investment advice. Trade at your own risk.