Passe — pas de trade

The fired "trigger" is a 15m candle wicking $26 below the developing VAL/pdEQ and closing $10 above it — a mechanical reclaim with essentially no reaction: volume 2.0 BTC, 5m delta flat (-1 BTC over 30m), price coiling in a $100 band around VWAP $63,957 / D-open $63,878 / pdEQ $63,899. That is a poor reaction at the level and mid-range chop, not a stop-rich swept level; CVD is confirming_down while the setup would be a long, so the directional read is contradicted rather than corroborated. With one consecutive loss on this book I need a stricter read than this: no meaningful trigger, no confluence, no room to a target — pass.