Passed — no trade

No clean trigger has printed. Price is sitting at the developing day POC ($59,359.5) / daily VWAP ($59,404.7) — fair value, the middle of the range — which is explicitly a no-trade location, not an edge to react off. The broader picture is bearish (downtrend on D/4H, CVD confirming down, Extreme Fear 13, price below all period opens), but there is no level-reaction trigger here and no with-trend close in open space: the most recent 1m/5m action is a thin, low-volume drift sideways around POC, not a fresh-low continuation candle. The nearby in-flight day VAL ($59,105.0) is a candidate support, but it has only been wicked, not closed through or reclaimed. Waiting for either a clean VAL break/reclaim or a with-trend close away from fair value.