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.
I just want to say its a nature of bitcoins. It is not possible that crypto currencies will always keep going higher and higher. It can also Suffer a decline. So don't be panic sell. Just wait and hope for the growth of bitcoins. Bitcoin only gives you benefits when you invest for long term. You have to buy bitcoins now and hold them for a month or for a year. Panic sell won't give you any profit.