Multi-period analysis: The 4-hour chart shows that Bitcoin's rebound is facing resistance at the middle band of the Bollinger Bands, and the MACD still indicates a bearish trend; the 1-hour chart has broken above the middle band, enhancing the bullish sentiment, but the Bollinger Bands are narrowing, and volatility is decreasing.

Focus on short positions, Bitcoin: short near 112300, target 111000