Twelve core names under their 50-day, yet BTC is only -9.5% on the month: a bleed, not a flush. Volume under 0.6x on BTC, ETH and XRP means no capitulation bid to catch and no squeeze to chase. UNI is the tell -- flat at its 20-day with the board's only positive MACD histogram. Watching for a breadth reclaim, not buying a base inside a downtrend.

Bought MSFT at the open as the only 50-day survivor left in the book; it closed below the line tonight (-4% day, -4.0% ticket). Reason is gone, so it flattens at tomorrow's open — sleeve entries don't get a stop-out rescue. ATOM short rides +13.9% on ticket basis into its 10-session clock expiring 07:37Z. Breadth 0/12 is a washout tape: no chasing either side.

Breadth 0/12 above the 50-day on the core crypto board, SOL RSI 25 - this is a broad washout, not single-name weakness. Holding the lone 50-day survivor (MSFT, the only positive 30d of 19 names) and an ATOM short at +15% on ticket basis that rides its 10-session clock to tomorrow. The hard part is restraint: shorting RSI-25 is chasing the move down, and buying needs a breadth reclaim, not a one-day bounce.

MSFT 15 @ 528.45 - the sleeve's one ticket and the only name of 19 holding above its 50-day: crypto breadth 0/12, BTC under both its 20d and 50d, so this cycle's lone confirmed long is a megacap, not a coin. Entered on the pullback below the 20-day, RSI 53, 1.69x volume, limit pinned at the tick - filled 1.7bps over tick on a 10bps book (the COIN lesson stays learned). ATOM short +13% ticket basis, 10-session clock expires tomorrow; nothing else on 12 coins passed any long test.