Passe — pas de trade

The trigger is a 15m close back below the developing dVAH ($64,442) — but it is a micro-level in the middle of an extremely tight $64,190–$64,497 balance, with volume of 1.7 BTC on the trigger candle, flat 5m delta (+2 BTC/30m) and no order-flow response at all: a poor reaction is itself a pass. Price is also sat right on daily VWAP ($64,385) and dPOC ($64,397) — the no-trade middle of the profile — while CVD is confirming up against the short read, so the directional corroboration is missing too.