Bitcoin has encountered significant resistance at $110,000, leading to a dip to around $108,000, attributed to profit-booking by short-term traders. Analysts anticipate that positive sentiment following potential legislative developments could boost prices, echoing past patterns where increased government borrowing influenced Bitcoin's rise. If Bitcoin can rebound from current support levels, it could rally towards its all-time high of $111,980. In contrast, a failure to maintain above key moving averages could see Bitcoin fall to $105,000 or lower. Evaluating other cryptocurrencies, BNB has broken above key moving averages and could target $675 or $698, while Solana's failure to clear $159 could lead to a drop to $140 if not defended. Chainlink and Aave show similar patterns with pivotal levels needing to be defended to avoid declines to lower thresholds. Overall, the outlook remains cautiously optimistic, depending heavily on price actions around these technical levels.

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