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.
Sometimes the cause of a bitcoin crash is not explained by technical analysis. Its collapse is caused by a variety of reasons, and its price is constantly changing. We don't have to worry. What we need to do is to wait patiently, and it will return to normal.
Yeah there may be huge investors who even play with bitcoin by shuffling their millions and directing the traffic to gain profits like share market so small investors will obviously loss during this scenario.