Passe — pas de trade

The 00:00 UTC 15m candle did close down through the developing POC/VWAP cluster, but the short is not cleanly corroborated: 5m delta is bullish-divergent and falling 4h OI indicates a weakening downtrend despite bearish 4h CVD. From $64,854.8 to the nearest major support cluster at pwPOC/pmVAH/pdL ($64,637.5–$64,559.0), reward is only about $218–296 versus roughly $305 risk beyond the $65,025.9 trigger swing, or about 0.7–1.0:1, below the required floor.