I have received numerous emails on my view on Bitcon and Cryptos. I have tried number of elliott wave permutations WXYXZ, ABC etc. I'm happy to be proved wrong as I know may people have invested their life savings. But the way I see it if the red box is breached then one of the possible scenarios is that we go towards the blue box levels and go in a period of stagnation and likely see a cup and handle pattern. I can see that happening in some of the other alt coins so it appears to be one of the possible scenarios. Best case scenario is we a see a bounce, but i still think that would be just a bull trap.