10x Research: Bitcoin's pullback to $111,673 may be the best entry point

According to Hash Chain News, Markus Thielen, the founder of 10x Research, stated that traders are faced with the choice of whether to enter immediately or wait for a better pullback opportunity. Thielen suggests focusing on Bitcoin's pullback to the previous resistance level turning into a support level, specifically below the May high of $111,673. This may become a more ideal risk-reward entry point, as the risk-reward ratio typically requires at least 1:2, making entry near key support levels more advantageous. Thielen noted that markets often retest breakout points before a significant rally, so the possibility of Bitcoin pulling back to $111,673 cannot be ruled out. However, if Bitcoin does not experience a significant pullback and breaks above $120,000 while continuing to rise, that may also present an opportunity to re-enter. He emphasized that if the price breaks above the descending trend line formed by the highs on July 14 and July 23 and stabilizes above $120,000, following the trend could be considered, but a tighter stop-loss should be set.