First, congratulations to everyone who followed along and went long. The long position on the break below 762 and reclaim. No matter how you scaled out for profit, overall you should have made 2,000+ points in profit~ Nice!
Honestly, I didn’t expect this rally to be so swift. To be honest, I had a few short orders placed on the left side at 794, and they got stopped out instantly. Then I was left with only a mini core position in longs.
So what’s the outlook now?
As shown by the futures data in Figure 1, the rise was driven more by shorts closing than by longs entering. And after longs entered, the rally didn’t continue.$BTC
My personal view remains bearish. This rally has already gained 4,000 points. At the current levels, longs are taking profits. If you want to chase longs, wait until tomorrow’s daily candle closes above 812 before considering it. Likewise, if it closes above 812, I recommend closing any short positions first~
For shorts, be patient and wait for the price to fall back to 794 before entering~

🛡️ Gate pioneers PoSEC: Asset security goes beyond reserves
Adequate exchange reserves are important, but how those assets are stored is equally worth attention.
Gate has officially launched the industry’s first PoSEC fund security proof system, making asset storage structures and risk coverage capabilities more transparent.
📊 Cold storage coverage reaches 104.58%
🔐 88.26% of stored assets are held in cold storage
✅ An independent third-party audit mechanism has been introduced, with verification underway
From PoR proof of reserves to PoSEC proof of fund security, Gate is driving asset security beyond “adequate reserves” toward “verifiably secure storage.”
💬 When choosing an exchange, what other security data would you like the platform to disclose besides its reserve ratio?
Come to Gate Square with #Gate推出行业首个资金安全证明 to share your views and discuss asset security and transparency.
🔎 Learn about Gate PoSEC:
https://www.gate.com/proof-of-security

📢 Gate Live Livestream Preview for Today | November 5
🔹 Gold has formed an upward structure. How much farther can this rebound go?
🔹 BTC is approaching $82,000. Could this trigger a wave of short liquidations?
🔹 What should we watch at the U.S. stock market open? Let’s watch the market together and discuss key levels and trading strategies.
Join us on Gate Live tonight to watch the market and chat. Have a coin in mind? Just name it in the livestream!
Book in advance 👉 https://www.gate.com/live