Bitcoin (BTCUSD) bears looking to finally break $8,500 resist.

The BTC/USD pair started trading on Monday, January 20, by forming its second consecutive red candle on the daily chart. The coin dropped down to $8,624 and registered a small loss after bears once again tested the $8,500 line during intraday.
On Tuesday, January 21, the leading cryptocurrency climbed up to $8,719, completely erasing all losses from the previous session, still, we lacked a general trend.
The mid-week trading day on Wednesday found BTC moving down to $8,656 without being able to find a direction.

• Trading volumes started decreasing since the beginning of the new week, which might be the cause for the ranging market for that period. The 24-hour volumes dropped from $40 billion during the weekend to $25-28 billion in the subsequent days.
  
• Bitcoin bears tested the $8,500 already 3 times this week without being able to break it. Looking for a break there and eventually a re-break after finding support around $8,300.