Bitcoin: Imminent Correction?

All green! What a rise from yesterdays low of $56877, breaking the critical resistance of 0.786 at $58565 and rising to psychological resistance of $60,000. Bitcoin rose 47% in last 3 weeks starting from 27th September’s $40895 to today’s $60,000. The bulls are ruling again.

Technically, the 4h chart shows a little reversal after collecting the take profits near $59800-$60,000. There are two scenarios however, the combined support of Fib 0.786 and 20 EMA can push the price again to 1.618 near $61371. If the decline is not contained here, Fib 0.236 and 100 EMA can act as support after -6.36% correction. The correction is due anyway. The uptrend is exhausting and a bearish reversal appears which depicts weakening trend of bull run.