Currently, the price of Bitcoin is hovering around 1120 dollars, exactly at the lower band of the Bollinger Bands. This phenomenon indicates that after a sharp fall, the market has temporarily reached a relatively low point.

Looking back at the recent trend, the price of Bitcoin has quickly fallen from its high, breaking through the middle band of the Bollinger Bands and nearly touching the lower band. Currently, the price is oscillating repeatedly within this low range, suggesting that selling pressure has weakened and the downward momentum has temporarily been curtailed.

However, we should not be overly optimistic. Given that the price has not yet broken through the middle band of the Bollinger Bands, the overall market is still in a weak consolidation phase. In this state, investors need to remain cautious and closely monitor further developments in price movements.

Based on the current market situation, we can consider the following trading strategy: set a short position near 113000, and if the price pulls back to around 111500, then consider establishing a long position in the opposite direction. However, this is just a personal opinion based on the current market conditions, and investors should also take into account their own risk tolerance and other market factors when making decisions.

In this market environment, it is crucial to remain calm and rational. Closely monitor market trends and adjust strategies in a timely manner to seize opportunities and avoid risks in the volatile cryptocurrency market.