Passed — no trade

This is a weak sweep of a weak level, with no absorption and the context against a long. The swept level is the developing day value area low (dVAL, $80,612). It is tier 2 and moves as the session trades lower, so it is not an obvious extreme most participants watch (#172). The rejection is thin. The candle opened and closed at the same price, $80,621.4, only $9 back above the level after a $38.6 wick. Volume was 3.9 BTC in a dead session. The previous 15-minute candle also closed at $80,621.4, so price is stalling here rather than being reclaimed. Delta 5m over the last 30 minutes is flat at net -2.42 BTC, so no buyer is stepping in at the level. Price is still below the session VWAP ($80,742.7) and the previous week's value area low ($80,669), so it is not accepted back into value. D and 4H have stepped down from the $84.8k high, and open interest is in a weakening downtrend. The bigger problem is below. The previous day's low ($80,374.7) is the obvious untouched liquidity and sits under the proposed stop ($80,412.2). A run to that low would take this stop. A sweep and reclaim of that low is the better long setup to wait for.