A fall below $ 7,950 on the bitfinex will make it clear that the markup is not valid, because wave 2 can not fall below wave 1. This will be very bad.
There is just to many fake news and people quickly selling their btc. So the whales will be taking advantage and will be waiting for the price drop. And even if it is low already they are still spreading news so the price of btc 2ill drop more so they can buy cheap. If you look at it btc price is stil l going up slowly but fake news is keeping it from rising