yes, if you plot retracement for a move, but then, why not starting from 3.1K instead? If retracement just from the top number, then it is more like $24790 for 61.8% fib.
Albeit, maybe you are more "right" and if counting from 3.1K, I am getting 26706, however, it is all a small argument (26.7 vs 27.2).
Clearly, 61.8% Fib (whichever you count, it is somewhere between ~25K and 27K). I will be watching those numbers, it it ever comes to that.
can't remember the deepest low after the bull run of 2017. if it was 3.1K then I also would prefer this low instead. you're right. we will see.
what clearly comes into my mind is with that absolute figures of price swings the average Joe is not able to handle it anymore because it's above the monthly wage of the most. the result is pure panic of small investors.