BTC/USD technical analysis: Volume is looking thin as the market looks to break 8.5K

BTC/USD trades 0.70% higher but it's looking like bulls are struggling to gather momentum.
Price has struggled to push up to the 8,500 mark after rejecting 8,200 in yesterday's session.

The four hour chart below is showing the price in its consolidation zone between 8,826 and 7,701.

Today price is right in the middle of the consolidation zone and it holding at the mean value area represented by the volume profile indicator on the right-hand side of the chart.

There is also a support zone at 8,220 which is marked by the small blue rectangles on the chart and this level seems like a magnet for price.

It is left to the US traders to pick up the momentum and push the price higher but if the price breaks the support xone the next level on the way down is 7,701 consolidation support.

On the daily chart where we are now could be the higher low that is needed for price to push higher. We are technically still in a downtrend until 8,826 is broken.

BTC/USD

Overview
Today last price	8338.78
Today Daily Change	56.38
Today Daily Change %	0.68
Today daily open	8282.4

Trends
Daily SMA20	8265.87
Daily SMA50	9405.63
Daily SMA100	10055.93
Daily SMA200	8674.16

Levels
Previous Daily High	8469.7
Previous Daily Low	8154.14
Previous Weekly High	8840.25
Previous Weekly Low	7768.77
Previous Monthly High	10942.68
Previous Monthly Low	7706.37
Daily Fibonacci 38.2%	8274.68
Daily Fibonacci 61.8%	8349.16
Daily Pivot Point S1	8134.46
Daily Pivot Point S2	7986.53
Daily Pivot Point S3	7818.91
Daily Pivot Point R1	8450.02
Daily Pivot Point R2	8617.63
Daily Pivot Point R3	8765.57

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