I dont know how high it will go but that is how low it will go. Just a humble call made purely via pattern extrapolation. Since you so strongly believe it will not happen, that is exactly why it's going to happen. I have no further arguments.
Doubt it. The fundamentals have changed dramatically. So I don't see a drop to 3k happening. Possibly 5.5k but even that seems like a stretch and I doubt it would last very long.