Bitcoin Struggles to Break Above $80,000 Amid Federal Reserve Uncertainty

Bitcoin's price has been stuck in a narrow range between $76,000 and $80,000, with repeated attempts to break above $80,000 failing.

As of Monday, Bitcoin was trading near $77,600 after gaining 0.5% over the past 24 hours, but remains below the resistance established around $80,000.

The Federal Reserve's upcoming decision on interest rates has added to the uncertainty, with stronger-than-expected US employment figures for August leading to increased expectations of higher interest rates.

QCP Capital has identified $80,000 to $82,000 as a local resistance zone, with support around $77,000 to $78,000, but the failure to break above $80,000 could lead to a move towards $75,000 if sellers push through $76,350.