Thèse Short

Daily VWAP at $64,690.3 was rejected: the closed 04:45 UTC 5m candle wicked to $64,710.7 and closed back below VWAP at $64,685.5, also rejecting the developing POC at $64,689.5. The short is corroborated by the CCV short bias, confirming-down 4h CVD, and positive funding; the confirming-up 5m delta into a failed push above VWAP suggests aggressive buying was absorbed, while flat 4h OI is not a veto. Entry is at the trigger close, with the stop buffered beyond its wick; T1 is developing VAL at $64,563 and T2 is the settled previous-day/naked POC at $64,110.5, giving approximately 3.72:1 R:R to T2.