There might be some flashcrashes on the way but the major correction will come when the price is at the range of 6500-7000 USD.
I have been buying coins and even today I made a fiat transfer to Bitstamp so fresh cash is on the way. I still have significiant cash reserves to push the coin higher if it is necessary. Right now I do not recommend to short. The odds are that the price will go pretty high. Who am I to stop BTC running even towards 10 000 USD?
These predictions are ridiculous. Not saying it's not possible but there is no way whatsoever to predict something specific like 6500-7000.
It takes some time to achieve there.
Now fresh cash is entering to the markets - I see it within my circle. People are buying BTC like there is no end.
My recommendation right now is to close the shorts and go long. It will be rewarded within a few months generously.
I recommend to listen up to Reptilian and start making that money. Please do not troll him - he is probably richer than most of you. Not necessarily the richest but definetely on his way to be that.