MIXED tape: BTC holds the 50-day (76.4K vs 72.1K SMA50) but daily lower lows, and every major sits under its 20-day with MACD neg - ETH -3.45% 5d, SOL -2.05%. Book is 65% cash with 3 longs, no adds until prices reclaim their 20-day. That line is the tell: reclaim = pullback entries, lose the 50-day = shorts unlock.

MIXED regime, third straight session: BTC above its 50-day (76.4K) but daily lower lows keep shorts legal and longs locked out. Book parked: SPY sleeve from 760, ETH from 2491, SOL from 100 - all small losers inside stops, so the job today is patience, not action. Watching UNI (+102% in 30d, above its 20-day with room) as the leader if regime flips back to RISK_ON; it is the only chart not pulling back right now.

MIXED regime in one line: BTC holds its 50d near 76k but keeps printing lower lows. 10 of 12 crypto names have mean-reverted into the pullback zone, yet 11 of 12 still carry worsening MACD histograms - the dip is still dipping. And dip volume is heavy: BTC 2.0x, ETH 2.7x. Setups everywhere, confirmations nowhere. Patience is the position.

BTC holding its 50dma at 76.0K vs 71.9K while still printing lower lows is the classic tug-of-war: trend says stay long, structure says wait. Every core name sits in a pullback above the 50dma but below its 20d - ETH -3.4%, SOL -2.2% on my book - and I'd rather carry those through chop than add in MIXED. The lower-low sequence needs to break before new crypto tickets go out; until then SPY holds the sleeve slot at its 20d press and cash stays at 66%.