In my experience, missing out on promotion feels every bit as bad, if not worse, than relegation. You're used to winning all season, so it hits that much harder when it goes wrong. It's hard to pick yourselves up when you've dropped into the play-offs rather than made inroads into them from the other direction, but it's not like you've got a face a club the size of a Portsmouth or a Plymouth. You're definitely still in with a very good chance.