While the Bitcoin exchange rate is actively trying to break the mark of 8000 USD, the Central Bank of France started talking about stablecoin. During his interview, the President of the Bank of France, Francois Villeroy de Galo said that he sees the future in stablecoin. He expects that they will be used in transactions related to tokenized securities, goods and services.
Signal to buy Bitcoin (BTC):
Bitcoin continues to trade in the area of 8000 USD, retaining its upward potential. The next target for buyers will be the breakdown of the maximum of 8160, which will lead to an update of the level of 8450 and 8700, where I recommend fixing the profits. With the downward correction scenario, support will again be provided by the area of 7600, however, you can buy Bitcoin immediately on the rebound in the area of 7200.
Signal to sell Bitcoin (BTC):
Only the formation of a false breakdown at the new high of 8600 will be the first signal to sell Bitcoin in order to reduce to the lower border of 7600 and update a larger support area of 7200, where I recommend fixing the profits. With further growth along with the trend, it is best to consider selling a rebound from a maximum of 8500.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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