Hello,

Its been a while.

Imagine for a second that we are nearing the blow off top, I'm looking out for where we might ultimately form a new baseline (background)

I'm going to say ~$3700 looks good

https://i.imgur.com/TZxXwQE.png

As you all know, this run up started around $200

$200 to $3700 is $3500 increase. If we do a fib retrace of 78.6%, working the math we end up with that $3500 representing 12.4% of the overall expected gain before it corrects. That gives 3500/0.124 => $16300 gain.

$16,300 + starting point of $200 = $16,500