BTC Bulls Eye This Key Level as a Potential Buy Opportunity

Bitcoin Pullback Eyed as Ideal Entry Point for Cautious Bulls

With Bitcoin trading just below all-time highs near $119,500, traders are searching for optimal entry points that offer favorable risk-reward dynamics.

According to Markus Thielen, founder of 10x Research, a retracement toward Bitcoin’s former resistance—now potential support—at $111,673 could present a strategic buying opportunity.

“We’d prefer to see BTC revisit the $111,673 breakout zone. It would create a stronger risk/reward profile for entering long,” Thielen wrote in a note to clients on Monday.

This level corresponds with Bitcoin’s May peak, which was decisively broken in July. Traders often view such retests as healthy technical behavior in strong uptrends.

The risk-reward ratio, a cornerstone of disciplined trading, suggests that upside targets should substantially outweigh potential downside. In this case, entering near support rather than at stretched highs provides better protection against volatility.

However, the scenario of a shallow or nonexistent pullback remains on the table. In that case, Thielen argues a clean break above $120,000, which would clear a descending trendline connecting the July 14 and 23 highs, could serve as an alternate entry.

“A confirmed breakout above $120K would justify engaging with the bullish trend again — but with tighter stop-losses to mitigate risk,” he said.

Bitcoin gained over 1% on Sunday following reports of a historic U.S.–EU trade deal, which boosted broader market sentiment and nudged BTC closer to a fresh record.

As the macro backdrop continues to evolve, bulls are watching whether Bitcoin offers a cleaner dip or forces a momentum-based reentry.