Analysis: Bitcoin's upward trend may end prematurely, with a target price of $95000

BlockBeats News: On August 12th, according to Cointelegraph, the upward trend of Bitcoin is facing the risk of premature termination, and the market has seen expectations of a target price below $100000. The latest market analysis warning released by traders such as ZAYK Charts on Tuesday stated that Bitcoin is in a sustained 'distribution phase'. ZAYK Charts believes that Bitcoin may fall to $95000, a level that has not been touched since early May. BTC has previously gone through the classic "Mark Up" phase of rebounding from long-term lows, and now it has entered the "Distribution" phase, which is usually the reversal zone of the upward trend. Since November last year, the range of $92000 to $95000 has played an important role in the price trend of Bitcoin, serving as both support and resistance levels, accompanied by intense market fluctuations. Trader Mikybull Crypto described the downward trend of Bitcoin after breaking through $122000 this week as' ugly '. And it is stated that BTC has returned to its previous volatile range, with the main beneficiaries being altcoins.