Morning market analysis on November 4.

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On the four-hour timeframe, Bitcoin's long bearish candlestick has touched a key support level, indicating a trend inertia release, with no effective bottom or stabilization signals. The candlestick has pierced the lower Bollinger Band, and the rebound after being oversold is weak, contributing to energy accumulation for further downward movement. The short-term correction pressure remains.

On the 1-hour level, Bitcoin shows alternating bullish and bearish candles after a two-candle rebound, with the bullish candle having a long upper shadow. There is strong selling pressure at the middle band, and the upward resistance is significant.

On the 4-hour chart, after rebounding to key resistance, it remains in a downward channel. The K-line tests the middle track under pressure and retreats, with heavy selling pressure and cautious sentiment; on the 1-hour chart, there is a slight rebound with a short bullish candle that has a long upper shadow, indicating weak bulls, significant resistance, and limited space. The morning trading suggestion is to focus on shorting during the rebound.
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Operation Suggestions:

The range of Bitcoin is between 107000 and 107500, with a target looking at around 105000 to 105500.

Near 3640-3670, the target looks down to around 3510-3530.
​$BTC $ETH #Gate新一期储备金报告出炉