Bitcoin Cash is shaken but didn't fall after Korea FUD

Here is a look at today's price action for Bitcoin Cash. Sorry for the busy chart; a bit of detail is needed to give clarity to what is happening. BCH gave up almost all of yesterday's gains but still looks bullish. The shakeout didn't break the lower support line of the triangle; however it is now trading below the 55 EMA. The correction appears to be ending (don't hold me to it, corrections can take on many forms!), if so wave 3 impulse should begin at any time. As usual the 1.618 Fib level (taken from the end of waves 1 and 2) is the target for this cycle, shown in the chart. Happy trading!