They do have a game in hand on the side's around them and are only five points away from second-place so hope is still high in the Capital City ahead of this weekend's key clash against fourth place Ospreys.
"The Ospreys will focus our minds after this defeat," said the Blues director of rugby.
"We believe we have to win our last five games.
"Very few teams go there (Liberty Stadium) and win and we know how difficult it will be. We must win there if we want to get in the play-offs. Every game is now a cup final."
"I said before this game we had to win five out of our six games left," said Young.
"We have now lost one of those and now it is quite simple; have to win the five games left. Otherwise, we are relying on other sides to do us a favour.
"We know on our day that we are a very difficult team to beat. In one-off games it can go either way.
"Look at the top six sides and every team in that group are good enough to go all the way.
"We have left ourselves with a big mountain to climb now.
"We are capable of doing it, but we are going to have to be better than we were against Munster."
The Blues travel to Connacht and then host Treviso in their next two Magners League games after this weekend, but then face two away derbies against Dragons and Scarlets to conclude the season.