bitsofwealth

$BTC Update

This is one of those times where it pays to be patient and wait for the market to stablize and the entry to present itself. We know there is a major hotspot of liquidity in the 74-75k range (you can see it on coinglass or MMT) and so waiting for that liquidity to be taken and for the market to react is going to be key. We don't really want to be trying to catch this knife to nail the bottom. We want to wait for all the damage to be done and for large buyers to step in so that we can join after them.

If you look at the 2nd and 3rd images attached, you will see that we are simply not seeing any real buying volume come in here on this dump just yet. If we compare it to the last big dump to 60k, you can clearly see the big buy volume come in after the dump had finished. Thats the same thing we are looking for here at this level.

Let's keep watching for it and remain patient.

$NIO Long Continuation

NIO is one of the tradfi plays that we have been discussing on the WOLF trader talk spaces pretty consistently. It recently pulled back and moved below previous month low and has now moved back above that. Notice it also filled the daily gap.

Let's see if we can get the full move up!

$INJ Long Idea

Another chart with some HTF potential for upside. IMO we prob need a week or two for TP1 to hit but these things are pretty hard to predict and time.

I am taking a position here for now and will be adding to it, given the opportunity.

Planning on taking 70% off at TP1 and moving stop to nearly break even.

This is more of a fun observation than anything serious, but it’s still a pretty interesting chart. This is the weekly chart of Bitcoin - illustrating what happened to price in the past, following either a new Fed Chair appointment or re-appointment.

Latest Status (as of May 12, 2026):

• The Senate confirmed Warsh to a 14-year term on the Fed's Board of Governors (51-45 vote). This was the key first step.
  
• The Senate is expected to vote on (and likely confirm) his separate four-year term as Chair as soon as tomorrow (May 13).
  
• Jerome Powell's term as Chair officially ends May 15, 2026. Warsh is poised to succeed him shortly thereafter (likely sworn in soon after confirmation).
  

Most analysts and reports anticipate Warsh will officially take over on or right around May 15, in time for a smooth transition (he could even lead the next FOMC meeting in mid-June).

This aligns with the historical pattern you’ve been tracking on the BTC chart. Keep an eye on news today/tomorrow for the exact swearing-in