Is price bouncing up from lower channel ?

There are 2 scenarios.

If it breaks down from the lower channel, it would test the 618 FIB level and hopefully have a rebound.

If not, it may rebound from the lower channel and heads up.

Notice it is still in a bullish trend in the 4H chart.

Do not short unless you are clear what you are doing and have a strategy for it.

Best of luck to all

Komen:

the price has hit the 618 FIB level, watch out for possible rebound. Not likely based on current price action, wait and see, no hurry to buy