The recent trend of Bitcoin shows positive signals. After continuing the rebound momentum from the previous trading day, the price of Bitcoin has shown a short-term upward trend with fluctuations. From a technical perspective, the MACD indicator on the hourly chart has formed a golden cross pattern below the zero axis and is gradually diverging upwards, while the red energy bars exhibit a mild higher trade volumes trend, which is usually seen as a positive price momentum signal.

Another technical indicator worth noting is the RSI (Relative Strength Index). This indicator has moved out of the oversold zone and has rebounded to a neutral to strong range. There are currently no obvious top divergence signals, which further supports the view that it may continue to rise in the short term.

Based on the current technical analysis, market participants may consider establishing long positions in the range of 117200 to 116700, with an upward target price set around 118800. However, investors should bear in mind that the cryptocurrency market is highly volatile, and risk management is crucial.

Overall, the technical outlook for Bitcoin is relatively optimistic at the moment. However, investors need to conduct a comprehensive analysis and judgment by considering more market factors, such as the macroeconomic environment, regulatory policy changes, etc., before making any trading decisions.