There is no data evidence for a sharp decline at the moment.

There-is-no-data-evidence-for-a-sharp-decline-at-the-moment

Now, there are a lot of opinions accompanied by tweets & pattern drawings on the price chart compared to the end of 2018 before somebody dumped Bitcoin.

However, on-chain data was and is effective with concrete pieces of evidence; there is currently no indication that a similar event will happen. (Except for another black swan that appears).

At the end of Q3/2018, when BTC's price started to decrease in volatility & moved sideways, there was a sudden increase in the number of addresses sent to the spot exchange. The number of addresses skyrocketed, and steadily deposited coins to the spot exchange while the market was gloomy.

Compared to the current period, except for the peaks on this data system that have demonstrated sharp price declines, the number of addresses that deposited BTC to the spot exchange is at its lowest level in years. There are no abnormal signs at this time.

Therefore, the fear or expectation that the Bitcoin price will fall further is still uncertain.