10x Research: A pullback to $111,673 for BTC may be the best get on board point, and breaking and holding above $120,000 is also a good buying opportunity.

PANews July 28 news, 10x Research founder Markus Thielen stated that traders face the choice of whether to get on board immediately or wait for a better pullback opportunity. He suggests following the Bitcoin pullback to the previous resistance level turning to support level, specifically below the May high of $111,673, which may become a more ideal risk-reward entry point. The risk-reward ratio typically requires at least reaching 1:2, so getting on board near key support level is more advantageous. Thielen pointed out that the market often retests breakout points before a significant rise, so the possibility of Bitcoin pulling back to $111,673 cannot be ruled out. However, if Bitcoin does not show a significant pullback, breaking through $120,000 and continuing to rise could also present an opportunity to get on board. He emphasized that if the price breaks above the descending trend line connecting the highs of July 14 and July 23 and stabilizes above $120,000, one could consider following the trend, but a tighter stop-loss should be set.