Bitconnect, while widely frowned upon, is not a ponzi or a scam.
They make all of their money through price manipulation. The users sell the BCC coins for bitcoin, the trading bot buys them as they go down and then pumps up the price by selling to itself at a higher price.
Thus, I think there may be a degree of uncertainty when it comes to elliot wave counting this coin. The basic principles of sentiment do not apply to the bitconnect coin, as it has no value without the lending program.
This may still be a good trade though. I bought a bunch around $240, as I knew they were going to pump the price at some point.