Passed — no trade

No confirming trigger has printed at a tradeable level. Price is sitting mid-structure around $62,428 — just below developing day POC ($62,500) and daily VWAP ($62,654), and above developing day VAL ($62,408) — i.e. in fair-value chop, not at a settled edge or naked POC in a clean reaction. The tape is a low-volume overnight drift with mixed signals: CVD confirming down (-77.5 BTC) and Extreme Fear (22) conflict with the up-day HTF structure and price above weekly/monthly opens, so there is no corroborated directional read. No 5m/15m close has rejected/reclaimed a specific level, and there is no established trending 1m/5m/15m structure with aligned flow for a continuation entry. Absence of a trigger plus conflicting flow = pass.