Traders Watching This Price Level for a Bullish Re-Entry Into Bitcoin

Bitcoin Bulls Eye Pullback to $111K as Ideal Reentry Opportunity

As Bitcoin trades near its all-time highs, market participants are assessing the optimal moment to rejoin the uptrend. With prices hovering around $119,500, the debate continues: enter now or wait for a deeper correction?

According to Markus Thielen, founder of 10x Research, a key level to watch is the former resistance zone near $111,673 — the May peak now acting as support. Thielen notes that a pullback to this level could offer the most attractive risk-reward profile for long-term bulls.

“We’d prefer to see a retest of the $111,673 breakout point before adding exposure,” Thielen wrote in a client note Monday.

The risk-reward ratio is a cornerstone of strategic trading, comparing potential loss to possible gain. A favorable setup typically emerges when prices are near strong support zones, enabling tighter stop-losses and better upside potential.

Revisiting previous breakout points is a common market pattern before continued rallies. A dip toward $111K could provide a cleaner technical foundation for the next leg higher.

Still, if Bitcoin continues upward without a retrace, a decisive breakout above $120,000 — the descending trendline from the July 14 and July 23 highs — may serve as an alternative trigger for bulls.

“A clear move beyond $120K could warrant re-entering the trend,” Thielen added. “But such entries would require tight stop-losses due to the proximity of potential resistance.”

Bitcoin gained over 1% on Sunday following headlines that the United States secured a landmark trade agreement with the European Union, which helped lift broader market sentiment. However, with no clear pullback in sight, traders are left navigating between patience and momentum.