Passe — pas de trade

The 00:45 UTC 15-minute candle did reject the developing POC at $64,888.5, but the location is POC/fair-value chop clustered with VWAP and developing value edges rather than a clean extreme. Reaction quality is insufficient: volume is very low, 5-minute delta is flat, and 4-hour OI is weakening, while bullish CVD conflicts with the recent local selloff, so corroboration is unclear.