Hopefully your long is already seeing healthy profit. Based on a fibonacci extension of the first 2017 bubble thrust to $3k and subsequent retrace, our optimistic target for this move is 7k by October. This would match the pattern of the 2013 bubble's second thrust, which topped out around the 2.618 extension area.
Cautious traders will scale out at each fib level. It will be a turbulent ride.
Cautious traders will scale out at each fib level. It will be a turbulent ride.