In the ever-volatile world of cryptocurrency, Bitcoin’s price dance continues to capture the attention of traders and analysts alike. As of today, July 28, 2025, Bitcoin is flirting with its all-time highs, leaving many potential investors pondering their next move. Should they dive in now or wait for the market to offer a more enticing entry point?
The $111,673 Conundrum
Markus Thielen, the insightful mind behind 10x Research, suggests that patience might be a virtue for those eyeing a strategic entry into Bitcoin. In a note to clients, Thielen emphasized the significance of a pullback to the former resistance level of May’s high—just shy of $112,000. “We would prefer to see Bitcoin retest its $111,673 breakout level to provide a more favorable risk/reward entry point,” he noted. This aligns with recent market movements where Bitcoin soared to new all-time highs above $112K, prompting traders to reconsider their positions.
The concept here revolves around a familiar trading strategy: the risk-reward ratio. Essentially, it weighs the potential loss against the possible profit, guiding traders in deciding whether the potential gains justify the risks. A risk-reward ratio of at least 1:2 is typically sought after, driving interest in entries near key support levels—like the $111,673 mark for Bitcoin.
Historically, markets are known for revisiting breakout points before embarking on more significant upward trajectories. Thus, a pullback to the specified level isn’t entirely off the table. But here’s the twist: as of now, Bitcoin is holding steady around $119,500, having experienced a modest 1% rise on Sunday, thanks to the buzz surrounding the newly minted trade deal between the U.S. and the European Union.
The Breakout Scenario
But what if the anticipated pullback remains elusive? Thielen offers an alternative pathway: entering the market above $120,000. This would signify a break above the descending trendline that connects the highs from July 14 and July 23. “A break above the descending trendline, particularly a sustained move above $120,000, could justify re-engaging with the trend, though it would warrant unusually tight stop-losses,” Thielen advised. This scenario is reminiscent of recent events where Bitcoin surged to new all-time high prices above $112K, highlighting the potential for continued upward momentum.
This scenario underscores the adaptability required in crypto trading. While waiting for the ideal price dip aligns with traditional strategies, the market’s notoriously unpredictable nature often demands flexibility.
Historical Context and Market Dynamics
To better understand the current dynamics, it’s worth looking back. Bitcoin’s journey this year has been nothing short of a rollercoaster. From regulatory hiccups to geopolitical tensions, the crypto market has had its fair share of catalysts and setbacks. Yet, Bitcoin has shown resilience, continuously bouncing back and maintaining its allure among investors.
The recent trade deal between the U.S. and the EU might just be another feather in Bitcoin’s cap, potentially bolstering investor confidence and driving further interest in digital currencies.
Looking Ahead
The question remains: Will Bitcoin pull back to the coveted $111,673 level, or will it surge past $120,000? As we move into the latter half of 2025, traders are keenly watching these levels. Either move could set the stage for the next major trend in Bitcoin’s price action.
However, with the inherent volatility of cryptocurrencies, nothing is set in stone. Thielen’s analysis provides a roadmap, but the market will ultimately chart its own course. As always, the crypto community remains on its toes, ready to seize opportunities as they arise—or adjust strategies if the landscape shifts unexpectedly.
In the end, whether you’re a seasoned trader or a curious newcomer, the Bitcoin market promises to keep you on the edge of your seat, offering both challenges and opportunities in equal measure.
Source
This article is based on: Here Is the Bitcoin Price Level That Could Be an Attractive Entry Point for BTC Bulls
Further Reading
Deepen your understanding with these related articles:
- Bitcoin Tops $111K, on Brink of Breaking Record High; Ether’s 6% Jump Leads Major Cryptos
- Bitcoin price expected to accelerate if daily close above $113K is secured
- Bitcoin Price Reaches Pivotal Moment—Is $120K Next?
Steve Gregory is a lawyer in the United States who specializes in licensing for cryptocurrency companies and products. Steve began his career as an attorney in 2015 but made the switch to working in cryptocurrency full time shortly after joining the original team at Gemini Trust Company, an early cryptocurrency exchange based in New York City. Steve then joined CEX.io and was able to launch their regulated US-based cryptocurrency. Steve then went on to become the CEO at currency.com when he ran for four years and was able to lead currency.com to being fully acquired in 2025.
