There is no close

Five tracks anchored their days on a close - an auction, a settlement, a print the whole market answered to. Crypto simply does not have one, and the absence is a bigger fact than it first appears.

What the absence removes

• No settlement print: nothing marks positions, values funds or anchors the day - the futures track's most consequential number has no crypto equivalent; portfolio 'daily' returns depend on whose midnight was chosen.
• No overnight, no weekend gap: the market cannot gap while closed because it never closes - news lands on a live market at 4am Sunday exactly as on Tuesday noon; the gap lessons of five tracks convert here into thin-hours lessons.
• No shared candle: a 'daily' chart is a time-zone convention - two readers' daily charts of the same coin can differ, and every backtest inherits its candle convention as a silent parameter.

What continuous trading actually means

Not continuous liquidity: participation follows humans, so depth breathes with the waking hours of the market's regions - de facto sessions exist, weekends thin dramatically, and lesson 2's venue gaps widen in the quiet stretches. The market being always open and rarely fully present is the platform's open-versus-present distinction at its maximum - and module 2 maps the actual tides.

What must be self-imposed

Every other track's discipline had a bell to hang on: review at the close, decide at the settlement, stand aside overnight. Crypto's trader must build the bell: a chosen daily mark for records, chosen session boundaries for statistics, chosen off-hours for the plan - module 7's whole cadence lesson is this fact matured. The seed said it plainly and the track repeats it: the discipline of not trading is harder without a bell, and the first structural fact of this market is that nobody will ever ring one.