Silk Road Market Analysis Morning Update 11.15

The global crypto market continues to navigate a phase of sustained bearish pressure, with Bitcoin overnight once again testing the 94,500 mark. This retest confirms that the market’s downward structural shift remains intact and suggests that any apparent stability at lower levels is temporary and fragile. On the four-hour chart, the competition between bulls and bears at the bottom zone has intensified, creating a clear battleground where short-term support attempts are met immediately with renewed selling pressure. While minor support signals are emerging, they are insufficient to reverse the broader trend, and the market structure still points firmly toward continued downside. On the one-hour timeframe, the persistent formation of bearish candles suppresses any attempt at recovery, with price action gravitating near the lower band of the Bollinger Bands. This indicates that the selling momentum has yet to subside and that downward pressure is still actively shaping intraday price movement.

Bitcoin’s brief rebounds in the 95,500–96,200 range have so far acted more like technical corrections than any meaningful recovery, and if bearish dominance persists, price targets for the next leg down remain around 94,400–93,500. Ethereum mirrors this dynamic, where short-term rebounds around 3,180–3,220 are likely to attract fresh selling, potentially driving the market toward 3,090–3,030 if current momentum continues. The market is currently prioritizing liquidity and risk management, with investors holding cash and avoiding aggressive accumulation, a behavior that is reflected in both crypto and global markets during periods of macro uncertainty. The resolution of the US government shutdown, highlighted under the hashtag #CoinDesk10月Gate战绩来袭, has so far only produced fleeting optimism, and without new catalysts, the market remains susceptible to sharp swings in either direction.

Overall, this phase should be interpreted not as a signal of imminent bottom formation but as part of a broader cycle where disciplined positioning and careful risk management are paramount. Volatility is expected to persist, driven by both technical factors and macroeconomic uncertainty, making survival and precise execution the key determinants of success. For traders and investors, the focus should remain on observing key support and resistance levels, understanding market sentiment, and preparing for the next meaningful shift in momentum. Patience, discipline, and strategic entry points will determine the ability to capitalize on opportunities once the market begins to recover, while ignoring these fundamentals could lead to avoidable losses. The current environment rewards measured decision-making over speculative aggression, and understanding the interplay between short-term technical signals and longer-term market structure will be critical in navigating the next stage of this cycle.