Passe — pas de trade

The 02:59 UTC 1m candle closed below the developing POC at $64,434.5, but a developing POC is not an eligible level-reaction location here, and price is already sitting on the developing VAL/session low around $64,418—strong support where a continuation short is forbidden without a confirmed break and retest. Bearish CCV/CVD context exists, but no qualifying rejection, reclaim, or with-trend close in open space has printed.