Passe — pas de trade

The 22:15 UTC 15m candle did confirm a bearish rejection/SFP of Tier-1 pwVAL $63,652, but the stricter post-two-loss filter is not met: 5m delta is flat, 4h OI is essentially flat, and broader CVD plus the healthy-uptrend OI backdrop remain bullish. The honest short from $63,494 toward pdH/pdVAH near $63,047 with a stop given room above the $63,678 sweep wick offers only about 1.4:1, below the normal 2:1 floor, so this is a pass.