Possible correction around .702 fib retracement

I am keeping an eye out for a potential reversal and further correction near the 0.702 fib retracement level. Only if price clears above the 0.786 level would I see a continuation of the uptrend. A symmetrical correction in this area would bring the price right down to the .305 monthly support level. I see this as a likely scenario if price pumps to these levels.