Passe — pas de trade

No confirming trigger has printed. Price is coiling in the middle of a very tight developing-day range ($62,755–$63,059) right around daily VWAP ($62,909) and the day POC ($62,953.5) — this is fair value, a poor entry location with no reaction at a settled level. The tape is choppy/sideways on near-zero overnight volume (last 1m/5m candles show almost no participation), so there is neither an established trend for a continuation nor an SFP/reclaim at an obvious swept level. CVD is mildly down and F&G is Extreme Fear, but with no level-reaction close and no with-trend close, condition (b)/(c) are absent — this is a watch, not a trade.