Passe — pas de trade

No confirming trigger has printed. Price is sitting almost exactly on daily VWAP ($60,797) and the developing day POC ($60,674) — i.e. dead center at fair value, in a dead overnight chop (1m/5m volumes near zero), not at a tradeable level edge with a reaction. The HTF is bearish (daily made a fresh lower low to 58,985, CVD confirming_down, Extreme Fear 12), but there is no with-trend continuation close here either: the last several hours are a flat micro-grind, not a clean impulsive leg, and shorting now would be selling into VWAP/POC support rather than at a reaction. The nearest real level (naked day POC below at $59,767) is not in reach with a trigger. CCV not in play. No level-reaction and no with-trend close = pass and wait for the close.