Passe — pas de trade

Pass: the 08:30 UTC 15-minute candle closed down through pdVAH $65,127, but price has not retested that level for a responsive short, and the stricter bar after two consecutive losses is not met. Broader confirmation also conflicts with the short—4h CVD is confirming up and 5m delta shows bullish divergence, while flat OI and the short-covering backdrop do not show a strong bearish reaction.