Price Analysis View Non-AMP

Bitcoin Bull Run is Back! Analyst Predicts $37k Price Target

Published by
Zameer Attar

In a recent in-depth analysis by crypto analyst George Tung, from CryptosRUs, the cryptocurrency community received uplifting news. Tung confidently asserts that Bitcoin has now entered a bullish phase, coinciding with the market’s robust upward movements and growing regulatory scrutiny.

This is a significant development for Bitcoin investors, as it suggests that the cryptocurrency is poised for further growth in the coming months. But what does this mean for you?

Read on to learn more about Tung’s analysis and what he believes is in store for Bitcoin in the near future.

Bitcoin’s Rise to the Top

Tung highlights Bitcoin’s recent display of strength and stability. Just a week ago, it was trading below $26,000, but it has since solidified above $34,000, serving as both a support and resistance level.

Tung’s findings find confirmation in the insights provided by analysts at Bloomberg, who use a chart that draws parallels between the current Bitcoin price trend and the run-up to the bullish phase of 2020.

While there is ongoing debate about the exact commencement of this bull market, Tung contends that Bitcoin began this journey when it broke out of the $15,000 to $16,000 range. He underscores that the cryptocurrency has been steadily recovering, more than doubling its value from that pivotal point.

What’s Next for Bitcoin? No one Really Knows!

Looking ahead to Bitcoin’s short-term price trajectory, Tung acknowledges the prevailing uncertainty. Currently, Bitcoin is wrestling with the resistance level at $34,700. Speculation is rife, with some anticipating a surge to $37,000 once this resistance is breached, while others foresee a potential decline to $32,600 or $33,000.

At present, Bitcoin is valued at $34,101. In the 4-hour time frame, we observe an immediate resistance point at $33,900 and a significant resistance level at $35,200, as indicated by a double top pattern.

Potential Scenarios to Consider

If the current bullish sentiment holds, Bitcoin might face resistance at $36,200 and $37,000 as it continues its upward climb. On the other hand, in the event that bearish sentiments take hold, support could come into play at around $33,100, corresponding to the 38.2% Fibonacci level.

Also Read: Bitcoin Price to Rocket to $125K by 2024: Is It Time to Invest?

Additionally, it’s important to keep an eye on support levels at $32,400 and $31,600.

Zameer Attar

Zameer is a financial analyst and writer with a particular interest in cryptocurrency markets. He has been studying cryptocurrencies and their market behavior for several years and deeply understands the factors that affect the price of cryptocurrencies. His expertise lies in his ability to use both technical and fundamental analysis to make informed predictions about the future direction of cryptocurrency prices. He has a strong understanding of market sentiment and uses this to inform his trading decisions and price predictions.

Recent Posts

Bitwise Names ETH, SOL, XRP, LINK as Top Tokenization Picks

Bitwise, a leading crypto asset manager, has identified Ethereum, Solana, XRP, and Chainlink as the…

July 9, 2025

Pi Network Price Dips as Possible Manipulation Raises New Concerns

Pi Network is back in the spotlight, not for a new milestone, but for something…

July 9, 2025

Binance CEO Richard Teng Sounds Alarm: Is Your Crypto Account Safe?

Binance CEO Richard Teng has issued a strong reminder to the crypto community: your assets…

July 9, 2025

Can Toncoin Flip $2.88 Barrier & Retest $5 In The Short-term?

Toncoin (TON) is trading at $2.81 currently, showing small gains with a 24-hour price gain…

July 9, 2025

Top Summer Picks: Ethereum (ETH) Climbs, But This Under-$0.05 Coin Could 15x

Ethereum (ETH) is enjoying renewed market enthusiasm this summer, bringing energy back into the altcoin…

July 9, 2025

Top 3 Cryptocurrency Altcoins To Buy Today  – July 9, 2025

The cryptocurrency market is trading sideways today, with Bitcoin holding around $ 109,000 and Ethereum…

July 9, 2025