Passe — pas de trade

The 15m candle closing 01:45 wicked $78,832.6 above pdVAH ($78,803.0) and closed back below it — a structurally clean rejection at a Tier-1-adjacent settled level, but the reaction quality is poor: volume on the sweep was ~2.9 BTC (near-dead Asian book), Delta 5m is flat (+3.2 BTC over 30m) with no negative delta response, and OI is flat (-0.11% on 4h) so there are no trapped longs to fuel the fade. On top of that, the sweep is only $30 above the level and the immediate downside structure (dVAH $78,713, VWAP $78,656.5, dPOC $78,574.5) sits within $250, so a short cannot honestly clear 2:1 to a T2 with a stop above $78,880. No trade.