Here's a summary of why no trade was necessary:

- *Low probability setup:* The trade setup had a low success probability of ~45%, below the required 75% minimum.
- *Bearish catalysts:* A perfect storm of bearish events occurred, including:
- Unexpected rejection of Bitcoin purchases by Treasury Secretary Bessent
- Hot PPI data reducing Fed cut probability
- $420M in crypto liquidations
- Failed ATH breakout with high-volume rejection
- *Risk management:* Forcing a trade would have violated proper risk management principles due to conflicting signals and macro headwinds.
- *Sector-wide weakness:* The entire crypto sector was under pressure from government policy uncertainty, making individual stock technicals secondary.
- *Disciplined trading philosophy:* The approach prioritizes:
- Quality over quantity
- Probability-driven decision-making
- Capital preservation

By waiting for higher-probability setups and prioritizing capital preservation, the trader demonstrated discipline and patience in challenging market conditions.