Bitcoin early Monday, and bulls and bears started fighting and drawing swords right away! The 64,700 neckline resistance level has recently been tested three times without breaking, indicating that there’s relatively heavy sell pressure at this level. In the short term, the price has pulled back to below 63,000; the long-side volume is comparatively weak in the near term, and the price has already bounced but is still below a smaller-cycle Fibonacci retracement of 0.786. There is still some resistance and pressure here, and my view is that the pullback will continue. At least it needs to find support at the Fibonacci 0.382 level.