BITCOIN & ALTCOINS JUST FLIPPED (for now)!!! - Bitcoin News Today, Ethereum, Solana, XRP & Chainlink

Market Analysis & Trends - Bitcoin is holding above a major support area, with new liquidity building above its price [1] - Bitcoin dominance is pulling back in the short term, leading to a bounce for Ethereum [1] - The US stock market's movements are influencing short-term crypto price action [2][3][4] - A confirmed bearish divergence on the weekly Bitcoin price chart suggests a likely slowdown in bullish momentum, potentially leading to sideways consolidation or a pullback in the coming months [10][11][12] Federal Reserve & Interest Rates - The market is pricing in an approximately 82% probability of a 0.25% (25 basis point) rate cut at the next Federal Open Market Committee (FOMC) meeting in September [6] - The Jackson Hole meeting this week could cause short-term volatility depending on announcements regarding potential rate cuts [5] - A rate cut is generally considered bullish for markets, while no rate cut is bearish [7] Trading Strategies & Opportunities - The analyst closed an Ethereum short position with approximately $7,000 in profits [2][42][45] - The analyst identifies key resistance levels for Bitcoin at around $115,000 and $117,000, with a liquidity area just above $119,000 [20][21][22] - Chainlink is showing strength, with potential for further bullish movement if it confirms a breakout above $27, targeting approximately $2950 to $30 [55][58] Altcoin Analysis - Ethereum is bouncing from a targeted support area between approximately $3,900 to $4,100 [35] - A pullback in Bitcoin dominance is generally favorable for altcoins [34] - XRP has a major bearish divergence on the weekly chart, suggesting a potential slowdown or pullback in the coming months [50][52]