BTC price breaks out of 7-month descending wedge pattern, continues to rise above $70,000 Recent market inflows and dynamics have freed BTC from a 7-month downward expanding wedge pattern. According to Cryptocurrency analyst Gert van Lagen, last week's breakout for BTC may signal the start of a major price continuation phase, as the target for long positions is to break the $70,000 mark. In particular, Van Lagen emphasized that BTC's successful retest of the upper trend line of this pattern has provided strong momentum for the current bullish structure. Descending broadening wedge is a reversal structure in Technical Analysis, and a breakout usually suggests a strong trend. BTC's ability to break above the uptrend line enhances the possibility of a bullish trend and provides a basis for setting new historical highs in the coming weeks. When analyzing in Van LaGen, the BTC price is retesting the bottom sloping trend line. Since reaching a historical high of $73,737 in March, this trend line has limited the pump of the BTC price. By then, BTC had broken through this trend line in the descending expanding wedge and was on the third candle. As BTC Rebounds from the uptrend line, VanEck describes this as a "successful bullish retest." In addition, he points out the importance of the bullish trajectory for this pattern and emphasizes that the breakout direction is upwards 79% of the time. With the successful breakthrough of the BTC price, the next stage may see Crypto Assets continue to rise and soar to over $70,000. Therefore, analysts also pointed out that setting a new historical high is crucial to fully validate the wave continuation pattern. While the breakthrough and retest provide encouraging technical signals, Van Raagan warns that traders should closely follow key downside levels. He points out that $58,700 is the key weekly Closing Price, and a drop below this price will invalidate the bullish structure. In his view, a Closing Price below this threshold will disrupt the rapid continuation of the fifth wave and completely reverse the bullish pattern, setting a new historical high. Interestingly, BTC has maintained its pump momentum since this breakthrough. In particular, the cryptocurrency has continued to rise, surpassing $71,000 for the first time since June. At the time of writing this article, the BTC trading price is $71,150, with a intraday high of $71,450 in the past 24 hours. Currently, BTC is only 3.6% away from reaching an unknown price zone. The only key resistance level that needs to be followed is the current all-time high. Many BTC indicators indicate that, at least in the short term, the BTC price will continue bullish. The outstanding value of BTC Close Position contracts has reached a peak of 426 billion USD, reflecting the high level of trading activity among BTC traders. (Data Source: Scott Matherson)

According to official news, the Freed fintech Foundation of the United States announced its investment in ZongZi, a burning rune launch platform on the BNB Chain chain. The foundation said that in the future, it will also actively participate in ZongZi's strategic planning and development direction, and promote the organic combination of technological innovation and social responsibility. It is reported that the Freed fintech Foundation is a free fintech foundation registered in Colorado, USA, and is committed to investing in the fields of high-tech, AI, and blockchain financial innovation. ZongZi is a burning rune emitting platform and meme coin on the BNBChain chain, and all ZongZi tokens are generated through fair minting.

U.S. presidential candidate Vivek Ramaswamy, in multiple posts on X, outlined how he would shut down the Federal Bureau of Investigation (FBI) if he was elected president of the United States, Gold Finance reported. He noted that the FBI has about 35,842 employees and said that "56 percent of the FBI's professional bureaucrats should be fired immediately." ” Ramaswamy recently unveiled his Crypto Assets policy. He promised that if elected president of the United States, he would ensure that areas of innovation, including Crypto Assets, are "freed from the shackles of an unconstitutional shadow government." He expects to repeal most of the SEC's regulations applicable to Crypto Assets.

Jinse Finance reported that Eugene Chen, co-founder of Ellipsis, said that the low cost of Solana DeFi has freed developers from the shackles. The vision of DeFi is to provide a fully on-chain, transparent and composable transaction experience. He said that the Solana ecosystem is characterized by high throughput and low fees, allowing developers to actively participate in the market. Chen emphasized that on-chain DeFi still has a long way to go, and there are many concerns about MEV and discrete block times, just like the huge challenges that AMMs need to overcome.

According to a May 18 report from the "Kechuangban Daily", Zhou Xi, chairman of CloudWalk Technology, said at the "AI Empowering Digital China Industry Forum and 2023 CloudWalk Technology Human-Machine Collaboration Conference" that large models will subvert traditional interaction methods. , mainly presented in three forms: question and answer, accompanying, and hosting. "Among them, the question and answer is the current GPT; accompanying means that AI will accompany you to perform many things like a friend; hosting means that one thing is mainly handed over to AI, similar to 'on-hook training' in online games .If you can reach the stage of trusteeship, people can be freed to do more meaningful and interesting things.”