The abrupt decline in the value of Bitcoin has taken many investors by surprise, prompting questions about the potential for further decreases in the future.

比特币价值的突然下跌让许多投资者感到意外，引发了人们对未来进一步下跌的可能性的质疑。

Bitcoin (BTC) concluded the previous week with a notable gain of 9.55%. However, the beginning of the new week saw a significant weakening as it dropped to nearly $40,500. This substantial downturn in Bitcoin’s value also led to liquidations in various alternative cryptocurrencies. Data from CoinGlass reveals that cross-crypto long liquidations on December 11 exceeded $300 million.

比特币 (BTC) 上周上涨 9.55%。然而，新一周伊始，价格大幅走软，跌至近 40,500 美元。比特币价值的大幅下跌也导致了各种替代加密货币的清算。 CoinGlass 的数据显示，12 月 11 日跨币种多头清算额超过 3 亿美元。

It’s important to note that this sharp decline should not be seen as a departure from the prevailing trend in both Bitcoin and alternative cryptocurrencies. Corrections like this are an expected part of any upward trend. Rapid surges in value are typically followed by significant pullbacks, which weed out less resilient investors and create opportunities for long-term investors to purchase assets at lower prices.

值得注意的是，这种大幅下跌不应被视为背离了比特币和其他加密货币的普遍趋势。像这样的修正是任何上升趋势的预期部分。价值快速飙升之后通常会出现大幅回调，从而淘汰掉弹性较差的投资者，并为长期投资者以较低价格购买资产创造机会。

The corrections are unlikely to stretch longer due to several bullish catalysts in 2024. Analysts expect one or more Bitcoin exchange-traded funds to receive regulatory approval in January, which could be a game changer. That will be followed by Bitcoin halving in April, and finally, expectations of a rate cut by the United States Federal Reserve could boost risky assets. Goldman Sachs anticipates the Fed will start cutting rates in the third quarter of 2024.

由于 2024 年出现多种看涨催化剂，修正不太可能持续更长时间。分析师预计，一个或多个比特币交易所交易基金将在 1 月份获得监管部门的批准，这可能会改变游戏规则。随后比特币将在四月份减半，最后，对美联储降息的预期可能会提振风险资产。高盛预计美联储将于 2024 年第三季度开始降息。

What critical levels could arrest the fall in Bitcoin and altcoins? Let’s’ analyze the charts to find out.

什么关键水平可以阻止比特币和山寨币的下跌？让我们分析一下图表来找出答案。

S&P 500 Index (SPX) price analysis

标准普尔 500 指数 (SPX) 价格分析

The bulls have held the S&P 500 Index above the breakout level of 4,541 for several days. This suggests that the buyers are trying to flip the level into support.

多头连续几天将标准普尔 500 指数保持在 4,541 点的突破位上方。这表明买家正试图将该水平转变为支撑位。

The upsloping 20-day exponential moving average (4,531) and the relative strength index (RSI) near the overbought zone indicate that the path of least resistance is to the upside. If buyers pierce the overhead resistance at 4,650, the index could increase momentum and surge to 4,800.

向上倾斜的 20 天指数移动平均线 (4,531) 和超买区附近的相对强弱指数 (RSI) 表明阻力最小的路径是上行。如果买家突破 4,650 点的上方阻力位，该指数可能会增加动力并飙升至 4,800 点。

This bullish view will be invalidated soon if the price turns down and plunges below the 20-day EMA. That will indicate aggressive selling at higher levels. The index may then tumble to the 50-day simple moving average (4,393).

如果价格下跌并跌破 20 日均线，这种看涨观点很快就会失效。这将表明在更高水平上的激进抛售。随后该指数可能会跌至 50 日简单移动平均线（4,393）。

U.S. Dollar Index (DXY) price analysis

美元指数（DXY）价格分析

The U.S. Dollar Index bounced off the 61.8% Fibonacci retracement level of 102.55 on November 29, indicating buying at lower levels.

11月29日，美元指数从61.8%斐波那契回撤位102.55反弹，表明在较低水平出现买盘。

The relief rally has reached the 20-day EMA (104), where bears mount a stiff defence. A minor positive in favour of the bulls is that they have not allowed the price to dip much below the 20-day EMA.

缓解性反弹已触及 20 日均线（104），空头在此进行顽强防御。对多头有利的一个小积极因素是，他们不允许价格跌破 20 日均线。

There is a minor resistance at 104.50, but if this level is scaled, the index could rise to the 50-day SMA (105). The flattening 20-day EMA and the RSI near the midpoint suggest a range formation in the near term. The strong support on the downside is at 102.46.

104.50 处有一个小阻力，但如果突破该水平，该指数可能会升至 50 日移动平均线 (105)。趋平的 20 日均线和 RSI 接近中点表明近期将形成区间。下行强力支撑位于102.46。

Bitcoin (BTC) price analysis

比特币（BTC）价格分析

Bitcoin’s’ tight consolidation near $44,700 resolved to the downside on December 11. The failure to resume the up-move may have attracted selling by the traders.

12 月 11 日，比特币在 44,700 美元附近的紧张盘整最终走向下行。未能恢复上涨可能吸引了交易员的抛售。

A minor positive in favour of the bulls is that the price rebounded off the 20-day EMA ($40,708), as seen from the long tail on the candlestick. Buyers will once again try to shove the BTC/USDT pair above $44,700, but the bears may not give up easily. The negative divergence on the RSI cautions that the bullish momentum is slowing down.

有利于多头的一个小利好是，从烛台上的长尾可以看出，价格从 20 日均线（40,708 美元）反弹。买家将再次尝试将 BTC/USDT 货币对推升至 44,700 美元上方，但空头可能不会轻易放弃。 RSI 的负背离警告看涨势头正在放缓。

If the price skids below the 20-day EMA, the correction could deepen to the breakout level of $37,980. This level is likely to attract solid buying by the bulls. On the upside, a break and close above $44,700 will indicate that the bulls are back in the driver’s seat.

如果价格跌破 20 日均线，调整可能会深化至 37,980 美元的突破水平。这一水平可能会吸引多头的大量买盘。从好的方面来看，突破并收盘于 44,700 美元之上将表明多头重新占据主导地位。

Ethereum (ETH) price analysis

以太坊（ETH）价格分析

Ethereum turned down from $2,403 on December 9 and plunged below the breakout level of $2,200 on December 11. This suggests that the bulls are rushing to the exit.

以太坊从 12 月 9 日的 2,403 美元回落，并于 12 月 11 日跌破 2,200 美元的突破水平。这表明多头正在急于退出。

The price action of the past few days has formed a negative divergence on the RSI, indicating that the bullish momentum is weakening. Still, the bulls are vigorously trying to defend the 20-day EMA ($2,186).

过去几天的价格走势对RSI形成了负背离，表明看涨势头正在减弱。尽管如此，多头仍在积极努力捍卫 20 日均线（2,186 美元）。

If the price bounces off the current level, the bulls will again try to resume the uptrend by pushing the ETH/USDT pair above $2,403. If they do that, the pair could rally to $2,500 and later to $3,000.

如果价格从当前水平反弹，多头将再次尝试将 ETH/USDT 货币对推至 2,403 美元上方，以恢复上升趋势。如果他们这样做，该货币对可能会反弹至 2,500 美元，然后升至 3,000 美元。

This optimistic view will be invalidated if the price closes below the 20-day EMA. That may deepen the correction to the 50-day SMA ($2,012).

如果价格收盘低于 20 日均线，这种乐观看法将失效。这可能会加深对 50 日移动平均线（2,012 美元）的修正。

BNB price analysis

BNB价格分析

BNB witnessed an outside-day candlestick pattern on December 11, indicating a tough battle between the bulls and the bears.

BNB 于 12 月 11 日见证了日外烛台形态，表明多头和空头之间正在展开一场艰苦的战斗。

The long tail on the day’s candlestick shows aggressive buying at lower levels. If the price maintains above $239.2, the BNB/USDT pair will likely pick up momentum and soar to $265. This level may be difficult to cross, but if the buyers succeed, the pair will complete a bullish inverse head-and-shoulders pattern.

当日烛台上的长尾显示出较低水平的激进买盘。如果价格维持在 239.2 美元上方，BNB/USDT 货币对可能会加速并飙升至 265 美元。该水平可能难以跨越，但如果买家成功，该货币对将完成看涨的反向头肩形态。

The trend will favour the bears if they sink and sustain the price below $223. The pair may then slump to the pivotal support at $203.

如果空头下跌并将价格维持在 223 美元以下，则趋势将有利于空头。随后该货币对可能会跌至关键支撑位 203 美元。

XRP price analysis

瑞波币价格分析

XRP rose above the $0.67 resistance on December 8, but the bulls could not build upon this breakout on December 9. This suggests selling at higher levels.

XRP 于 12 月 8 日升至 0.67 美元阻力位上方，但多头无法在 12 月 9 日突破这一突破。这表明在更高水平上抛售。

The bulls again tried to drive the price above $0.67 on December 10, but the bears held their ground. This started a sharp pullback, which dipped below the 50-day SMA ($0.62) on December 11. If the price closes below the 50-day SMA, the XRP/USDT pair could drop to the crucial support at $0.56.

12 月 10 日，多头再次试图将价格推升至 0.67 美元上方，但空头坚守阵地。这开始了大幅回调，并于 12 月 11 日跌破 50 日移动平均线（0.62 美元）。如果价格收于 50 日移动平均线下方，XRP/USDT 货币对可能会跌至 0.56 美元的关键支撑位。

If the price rises from the current level, it will signal buying on dips. The bulls will then again try to overcome the obstacle at $0.67. If they do that, the pair may travel to $0.74, where the bears are expected to mount a strong defence.

如果价格从当前水平上涨，则将发出逢低买入的信号。多头随后将再次尝试克服 0.67 美元的障碍。如果他们这样做，该货币对可能会上涨至 0.74 美元，预计空头将在此进行强有力的防御。

Solana (SOL) price analysis

Solana (SOL) 价格分析

Solana is facing selling at the overhead hurdle of $78. The failure to scale this level may have started the pullback on December 11.

Solana 面临着 78 美元的抛售门槛。未能突破这一水平可能是 12 月 11 日开始回调的原因。

The SOL/USDT pair is finding support at the 20-day EMA ($63), indicating that lower levels continue to attract buyers. If bulls sustain the rebound, the pair could retest the high at $78. A break and close above this level could open the doors for a potential rally to the psychological level of $100.

SOL/USDT 货币对在 20 日均线（63 美元）处找到支撑，表明较低水平继续吸引买家。如果多头维持反弹，该货币对可能会重新测试 78 美元的高点。突破并收盘于该水平之上可能会打开潜在反弹至 100 美元心理水平的大门。

Bears must drag the price below the 20-day EMA if they want to prevent the rally. That may start a deeper correction toward the crucial support at $51.

如果空头想要阻止反弹，就必须将价格拖至 20 日均线下方。这可能会开始对 51 美元的关键支撑位进行更深层次的修正。

Cardano (ADA) price analysis

卡尔达诺（ADA）价格分析

Buyers pushed Cardano above the overhead resistance of $0.60 on Dec. 9 and 10 but could not maintain the higher levels.

12 月 9 日和 10 日，买家将卡尔达诺推升至 0.60 美元的上方阻力位，但无法维持较高水平。

The up-move of the past few days propelled the RSI deep into the overbought zone, indicating that the rally was overextended in the near term. That may have tempted short-term bulls to book out on their positions, which started the pullback on December 11.

过去几天的上涨推动RSI深入超买区域，表明近期涨势过度。这可能会吸引短期多头结清头寸，并于 12 月 11 日开始回调。

The ADA/USDT pair is trying to find support at the 50% Fibonacci retracement level of $0.51. If the level holds, buyers will again try to push the price to the local high of $0.65. On the other hand, a break below $0.51 could sink the pair to the 20-day EMA ($0.45).

ADA/USDT 货币对正试图在 50% 斐波那契回撤位 0.51 美元处寻找支撑。如果该水平保持不变，买家将再次尝试将价格推至局部高点 0.65 美元。另一方面，跌破 0.51 美元可能会使该货币对跌至 20 日均线（0.45 美元）。

Dogecoin (DOGE) price analysis

狗狗币 (DOGE) 价格分析

The bears pose a solid challenge for Dogecoin’s rally at $0.11, as seen from the long wick on the December 11 candlestick.

从 12 月 11 日烛台上的长影线可以看出，空头对狗狗币 0.11 美元的反弹构成了坚实的挑战。

The price can pull down to the 20-day EMA ($0.09), a necessary level to watch out for. A strong bounce off the 20-day EMA will suggest that the sentiment remains positive and traders buy the dips. That increases the possibility of a break above $0.11. The DOGE/USDT pair may jump to $0.15 if that happens.

价格可能会跌至 20 日均线（0.09 美元），这是一个需要警惕的水平。从 20 日均线的强劲反弹将表明市场情绪依然乐观，交易者逢低买入。这增加了突破 0.11 美元的可能性。如果发生这种情况，DOGE/USDT 货币对可能会跳至 0.15 美元。

On the contrary, a drop below the 20-day EMA will suggest that traders are aggressively booking profits. The pair may extend the decline to the 50-day SMA ($0.08).

相反，跌破 20 日均线将表明交易者正在积极获利了结。该货币对可能会延续跌势至 50 日移动平均线（0.08 美元）。

Avalanche (AVAX) price analysis

雪崩 (AVAX) 价格分析

Avalanche has been in a strong uptrend for the past several days. Buyers quickly cleared the barrier at $31 on December 9 and reached $38 on December 10.

Avalanche 在过去几天一直处于强劲的上升趋势。买家在 12 月 9 日迅速突破 31 美元的关口，并于 12 月 10 日达到 38 美元。

The vertical rally pushed the RSI deep into the overbought territory, signalling that a correction or consolidation is possible soon. The price pulled back on December 11, indicating that the short-term traders may be booking profits.

垂直反弹将 RSI 推入超买区域，表明可能很快就会出现调整或盘整。 12月11日价格回调，表明短线交易者可能正在获利了结。

If buyers do not allow the price to slip below $31, it will increase the likelihood of a rally above $38. The AVAX/USDT pair could climb to $46 and later to $50. Instead, if the price turns down and plummets below $31, it will suggest the start of a deeper correction to the 20-day EMA ($25.85).

如果买家不允许价格跌破 31 美元，那么反弹至 38 美元以上的可能性就会增加。 AVAX/USDT 货币对可能会攀升至 46 美元，随后升至 50 美元。相反，如果价格下跌并跌破 31 美元，则表明 20 日均线（25.85 美元）将开始深度修正。

Source – Rakesh Upadhyay

来源——Rakesh Upadhyay