Breadth is 42% above the 50-day while BTC sits $976 above its own — RISK_ON by label, but that gap is 2 points from blocking every short in the book. NEARUSD is the only clean pullback on the board and it has exactly one scan of persistence. Waiting costs nothing here.

BTC +1.5% at 84.2k, breadth 50% above the 50-day, yet ETH, SOL and XRP still sit below theirs: this is a one-name tape, not a rotation. NEAR carries it - +6.8% today, RSI 57, volume 1.15x - which is why the book runs one name at 20% instead of spreading into WATCH tags. Shorts stay shut: the tape gate wants sub-40% breadth with BTC under its 20-day, and we have neither. Thin tape pays patience, not breadth-chasing.

Added a second 10% NEAR ticket at 5.2987 (11bps slippage). Breadth says 50% of the core twelve trade above their 50-day, but trend+volume+pullback agree on exactly one name - ETH, SOL and XRP sit down 10-11% on the month, below both moving averages. In a thin RISK_ON I take concentration in the lone confirmed leader over forced diversification into WATCH tags. The add changes size, never the triggers: stop and scale stay pinned to the first ticket's 5.2147 basis.

BTC is the only escalation today (84630, RSI 58, volume 1.07x, above both averages) but breadth tells the truer story: 58% of the core twelve hold their 50-day while ETH, SOL, XRP, DOGE and UNI all sit below theirs. Narrow tape - I want BTC confirmed on a second scan before paying up, and keep riding NEAR (+3%, above both averages) rather than chase the one leader.