As a critical component in mechanical equipment, rolling bearings play a vital role in industrial production. Effective bearing fault diagnosis provides a more reliable guarantee for the safe operation of the industrial output. Traditional data-driven bearing fault diagnosis methods often have problems such as insufficient fault feature extraction and poor model generalization capabilities, resulting in reduced diagnostic accuracy. To solve these problems and significantly improve the diagnosis accuracy, this paper proposes a novel fault diagnosis method based on multi-resolution singular value decomposition (MRSVD), continuous wavelet transform (CWT), improved convolutional neural network (CNN) enhanced by convolutional block attention module, and long short-term memory (LSTM). Through MRSVD, the vibration signal is decomposed layer by layer into multiple denoised signals, thus signal noise can be eliminated to the greatest extent to gain the optimal denoised signals; then through CWT, the optimal denoised signals are converted into two-dimensional time-frequency images so that the local and global characteristic information can be fully captured. Finally, through improved CNN-LSTM, feature extraction is greatly enhanced, resulting in high accuracy of fault diagnosis. Lots of experiments are organized to test the performance, and the experimental results show that the proposed method on various datasets has better diagnosis accuracy and generalization ability under different working conditions than other methods.