#BTC ETF Accepted as Loan Collateral

#June Market Forecast
- The price of Bitcoin is experiencing consolidation for six days as the 20-day exponential moving average limits rebound attempts.

The price of Bitcoin still reflects a state of hesitation after its sharp rebound from its all-time high of $112,000. After rising from $100,700 in mid-May, the upward momentum halted, leading to a rebound that gradually turned into sideways stability. This limited range movement continued for six consecutive days, confined between the 50% Fibonacci level at $106,400 and the 0.786% retracement support at $103,100.

Bitcoin's price is falling below the 20-day exponential moving average, increasing the risk of a drop to $103,100.
The relative strength indicators do not indicate a clear upward momentum as the range continues for 6 days.
Breaking above the level of $106,400 is essential for resuming the upward trend towards the all-time high.
During the Asian session on Thursday, the price of Bitcoin briefly rose from the opening price to $104,800, but attempts to rise were stopped at the 20-day exponential moving average, which is around $105,300. This resistance level formed a technical ceiling and pushed the price down. As of the European session, Bitcoin is trading near $104,500, reflecting a slight decline of 0.2% for the day. The failure to reclaim the 20-day exponential moving average has shifted near-term expectations towards a decline.
The price approaching the previous day's low of $104,300 increases the risk of further decline. A drop below this level would trigger a new three-day low, and is likely to accelerate selling pressure towards last week's low of $103,100, which is closely aligned with the 0.786% Fibonacci retracement level for May's rally. This level has consistently attracted buyers, but any further test could challenge this support power.