BlockBeats news, on February 18, analyst Yashu Gola stated that both technical indicators and on-chain data currently point to short-term downward risks for Bitcoin.
A classic "bear flag" pattern is forming on Bitcoin's daily chart. This structure began with a sharp decline to the $60,000 area, serving as the "flagpole," followed by a consolidation within converging trend lines,始终受关键均线压制,动能疲弱.
If the price clearly breaks below the lower boundary of the flag pattern, it could further decline to the $56,000 level within two months, representing a roughly 20% drop from current levels. Conversely, a breakout above the upper boundary near $72,700—aligned with the 20-day moving average—could invalidate this bearish structure.
On-chain data platform CryptoQuant shows that Bitcoin’s “Whale Inflow Ratio” (7-day average) has surged to a record high of 0.619, significantly above 0.40 at the beginning of the month. This metric tracks the proportion of total inflows from the top ten transactions, and its rise is typically interpreted as increased selling pressure from whales.
Meanwhile, the Greed & Fear Index is signaling a potential "bottoming pattern": the 21-day moving average has crossed below zero and turned upward. Historically, this combination has often accompanied a "sustained bottom," and although a brief further decline is still possible, the likelihood of a rebound is building.