Can Bitcoin still be chased? 10x Research founder: "This price point" is the best time to enter a position.

As Bitcoin hovers at a high point and the pump slightly eases, the market atmosphere gradually shifts from excitement to caution. Investors who want to follow the long positions are hesitating and facing a critical choice: Is it still possible to enter the market now, or should they wait for a big dump to buy?

According to a report released by 10x Research founder Markus Thielen, if Bitcoin retraces to the "resistance-turned-support zone" formed at the May high, which is below the price of 112,000 USD, this would be the most attractive entry point in terms of risk-reward ratio in the current market.

Markus Thielen stated: "We tend to wait for Bitcoin to retest the breakthrough level of $111,673, such a correction would create a more attractive entry opportunity, and the risk-reward ratio would also be more favorable."

In trading strategies, the "risk-reward ratio" is a core indicator for assessing potential gains and losses, reflecting whether the investment is worth the possible losses. Generally, professional investors set a risk-reward ratio of at least 1:2, meaning that the entry point should be as close as possible to the technical support level, resulting in smaller potential loss space and larger upward space, which naturally provides greater operational advantages.

As for the support level of 111,673 US dollars mentioned by Markus Thielen, it is indeed an important defense line for this wave of pump.

In technical analysis, it is not uncommon for the market to retrace after key breakout levels before resuming an uptrend. If Bitcoin pulls back to that price level, it could provide an excellent opportunity for long positions to re-enter.

As of the time of writing, Bitcoin is at 118,960 USD, having risen by 0.85% in the past 24 hours. However, earlier today (the 28th), after news broke that the United States and the European Union reached the largest trade agreement in history, Bitcoin briefly surged to 119,754 USD.

However, if the market does not show a clear correction trend, does it mean that the opportunity to get on board has been missed? How should investors respond?

In this regard, Markus Thielen stated that the ideal entry point in such a situation would be after Bitcoin breaks the 120,000 USD round number level, which is the "downtrend line" formed by the highs of July 14 and July 23.

If we can effectively break through this downward trend line, especially if we hold above 120,000 USD, it can be seen as an opportunity to re-enter the long positions trend. It is suitable for re-entry. However, operations at this time must be particularly cautious, and the stop-loss mechanism must be closely monitored to prevent chasing high prices and losing out.

Disclaimer: This article is for market information only. All content and views are for reference only and do not constitute investment advice, nor do they represent the views and positions of the blockchain. Investors should make their own decisions and trades. The author and the blockchain will not bear any responsibility for any direct or indirect losses incurred by investors' trading.