Bitcoin price continues to consolidate near the $105,000 mark, leaving traders split on whether a breakout or retracement is next. A recent poll from analyst Matthew Hyland highlights just how divided the market is, with nearly equal votes for a rally to $114,000 and a drop to $94,000. But what do the charts suggest, and how is sentiment shifting across the board?
Market Poll Highlights Uncertainty
As reported by Cointelegraph, on June 18, Matthew Hyland posted a poll asking his audience where Bitcoin would go next — higher to $114K or lower to $94K.
With over 1,300 votes, the result was nearly a dead heat: 50.2% predicted a retracement, while 49.8% saw a continuation of the bull trend. The split reflects the current indecision in the market as BTC trades sideways after failing to retest the $112K highs from early June.
Technical Analysis: Is the Trend Still Bullish?
From a technical standpoint, Bitcoin remains in a medium-term uptrend, holding above the key psychological level of $100,000. The recent price action has formed a tight consolidation range between $102K and $108K, with decreasing volatility — often a sign of an impending breakout.
Source: Tradingview
- The 50-day moving average is flattening out, providing near-term support around $102K.
- A breakout above $108K could signal a push toward the $114K level, aligned with previous resistance zones.
- A breakdown below $102K, however, may trigger short-term bearish momentum toward the $94K support area.
Final Thoughts: Bitcoin Price to $114K or $94K?
Bitcoin’s sideways movement has turned into a psychological tug-of-war between breakout optimism and pullback fear. The key to resolving this battle may lie in macroeconomic data or surprise institutional demand.
For now, the $108K resistance and $102K support levels will be crucial. Traders should keep a close eye on volume and volatility to spot the first signs of momentum shift.
