Bounced off the long term trend line

BTCE:LTCUSD   Litecoin / U.S. Dollar
Litecoin is pretty much oversold right now, there's a little 6.32% upside from $9.1 USD (0.5 USD gain) as we have just bounced off the long term trend line . 4 hour RSI indicates that it is currently oversold.

If LTC fails to break above $10 by 5th July, we should be expecting further downside through the falling channel ...
Update: Trendline is almost broken, if it closes below 9.09 we will be expecting LTC to be at $5~7.
I do suggest shorting that if so.
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