10x Research: BTC pullback to $111,673 may be the best entry point, and breaking through and stabilizing above $120,000 is also
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最新报道：According to the news from the Coinnet, on July 28, Markus Thielen, founder of 10x Research, said that traders are faced with the choice of entering the market immediately or waiting for a better pullback opportunity. He suggested paying attention to Bitcoin's pullback to the level of previous resistance turned support, which is $111,673 below the May high, which may become a more ideal risk-reward entry point. The risk-reward ratio usually needs to be at least 1:2, so it is more advantageous to enter the market near the key support level. Thielen pointed out that the market usually retests the breakout point before a sharp rise, so the possibility of Bitcoin's pullback to $111,673 cannot be ruled out. However, if Bitcoin does not experience a sharp pullback, breaking through $120,000 and continuing to rise may also become an opportunity to re-enter the market. He emphasized that if the price breaks through the descending trend line connecting the July 14 and July 23 highs and stabilizes above $120,000, you can consider following the trend, but you need to set a stricter stop loss.
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