B173

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

BITFINEX:BCHUSD   Bitcoin Cash / U.S. Dollar
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!
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