Passe — pas de trade

The 13:15 15m candle only wicked a few dollars above VWAP/pdVAH ($86,153 high vs $86,133 VWAP) and closed back below — a micro-rejection with 15 BTC of volume, not a real reaction at the level; 5m delta is actually confirming UP (+41 BTC) against the short read, and price is simply chopping in a $200 band around dPOC $86,073/VWAP $86,133 since 10:00. That is the no-trade zone between dVAL $85,751 and dVAH $86,556 with no corroboration: CCV short bias and bearish 4h CVD argue down, but 5m taker flow, rising OI and yesterday's strong close argue up. Poor reaction quality at the level plus conflicting flow — pass.