From the 4-hour or hourly chart perspective, the MACD indicator has formed a golden cross below the zero line, the histogram has changed from green to red, and the bulls are starting to gain momentum. This indicates that the upward momentum has been initiated in the short term, and it also shows that the strength of the bulls is increasing in the short term.

Trading suggestion: When it retraces to around 111500 - 112000, consider going long, with target price levels looking towards around 115000-115700.