Bitcoin at $117K: Buy or Run? 🚀

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With Bitcoin parked just below its all-time highs, hovering around $117,500, traders are left pacing at the gate like a dog waiting for a walk. Should they jump in now and hope to ride the next leg up—or wait for the market to flinch and hand them a better entry? 🧭

Markus Thielen of 10x Research says patience might pay. In his view, the sweet spot for bullish entries lies around $111,673—Bitcoin’s May high that flipped from resistance to potential support. “We’d prefer to see BTC retest that breakout level to offer a more attractive risk/reward entry point,” Thielen wrote in a Monday note to clients. Sounds like a plan… if you’re not a human being with a heartbeat. 💸

That level isn’t arbitrary. Markets, like old dogs, love familiar spots. Retests of previous resistance-turned-support are classic launchpads for renewed upside—assuming bulls hold the line. It’s also a zone that offers traders a cleaner setup: tighter stop-losses, better upside potential, and fewer sleepless nights. Or, as I call it, “the crypto version of a nap.” 😴

While Rekt Capital reports that Bitcoin is technically in week four of Price Discovery Uptrend 2, there’s every possibility Bitcoin can dip further before resuming its uptrend. If it dips, that could be the best opportunity to buy Bitcoin in some time. Or it could be the worst. Who knows? 🤷‍♂️

The Risk-Reward Game

Let’s break it down: traders are generally hunting for setups where they risk $1 to make at least $2 or more. That’s the classic 1:2 risk-reward ratio. Buying BTC at $119,000? That math gets shaky unless you believe in a moonshot soon. But buying closer to $111,673? That’s where the risk-reward math actually works in your favor. Unless it doesn’t. 🚨

Thielen’s call isn’t just technical nitpicking—it’s about strategic entry in a late-stage bull run where the easy gains are already in the rearview mirror. Like a car that’s already left the parking lot, but you’re still trying to get in. 🚗

With huge capital set to pour into Bitcoin treasury companies in 2025, buy opportunities will be rare. Or as I like to call them, “the rarest thing since a working Wi-Fi signal.” 📶

But What If It Doesn’t Dip?

Here’s the tricky part: bull markets don’t always give you second chances. If Bitcoin keeps climbing without that anticipated pullback, Thielen points to $120,000 as the new line in the sand. A clean break and close above that descending trendline (linking the July 14 and July 23 highs) could be your go signal—

“Re-engaging above $120K is justifiable,” Thielen notes, “but it requires unusually disciplined risk management.” In other words, if you’re late to the party, you’d better stay near the door. Like, literally. 🚪

Bigger Picture: Macro Tails and Catalysts

BTC’s modest 1% weekend gain came on the back of headlines about the U.S. and EU hashing out the largest trade deal in history—a rare dose of macro euphoria. If this optimism sustains, risk assets like Bitcoin may not pull back at all. But macro tailwinds can be fickle, and crypto has a habit of punishing euphoria just as fast as it rewards it. 🌪️

So what’s the takeaway? If you’re looking to ride the Bitcoin bull, don’t chase it up the hill with your shoelaces untied. Either wait for the pullback to $111K—or prepare to commit above $120K with surgical risk controls. Or just sit this one out. 🛋️

 

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2025-07-28 22:00