Bitcoin chart analysisOver the weekend, Bitcoin price continued the bullish consolidation from Friday. On Saturday, we saw an impulse above $69000 and the formation of a new high at the $69420 level. After that, the price began a retreat that lasted until Sunday morning and supported at the $67,000 level. With that support, the price started a new bullish consolidation, rising above the $68,000 level.On Monday, new bullish impulses for Bitcoin push it back above the $69,000 level, this time to a new high of $69,848. We are now at $69500 and trying to hold here to continue on the bullish side. We are very close to climbing to the $70000 level again. A new impulse would be ideal for that, and potential higher targets are $70500 and $71000 levels. 
The price of Bitcoin is on the rise; does it have the strength to continue even higher?For a bearish option, we need a negative consolidation and price pullback below the $69,000 level. This is a hint that the bearish momentum is intensifying, which could influence us to start pulling back to lower levels. At $68,264, we expect potential support because we will test the weekly open price and the EMA 50 moving average there.If Bitcoin fails to hold above the current support, it could lead to a break below and the formation of a new weekly low. This would significantly increase bearish pressure and make it challenging for the price to maintain itself. Potential lower targets are the $67500 and $67000 levels. It’s important to note that there is additional major support in the $67,000 zone at the EMA 200 moving average.More By This Author:Gold And Silver: Gold Again This Morning Above $2400 Ford Motor Company: Balancing Setbacks With Future Potential Gold And Silver: Gold Is Starting A New Recovery From 2370$
