Passe — pas de trade

The 20:15 UTC 15m candle did print a bearish rejection of the tier-one pmPOC at $63,910.5, but the stricter post-two-loss filter is not met: 4h CVD and 5m delta are confirming upward, while falling OI shows short covering rather than trapped new longs. The rejection also lacks a strong sell-side order-flow response, so broader corroboration and reaction quality are missing.