Passe — pas de trade

This isn't a real swing failure. It's price drifting back and forth around a magnet. The pwPOC at $80,448.5 is a value level, and price has crossed it all afternoon: the 15m candles from 16:00 to 18:30 traded through it again and again. At 17:45 price dipped to $80,372 and at 18:00 to $80,311, both below this wick. So no stops were resting under it, and a $26.8 poke on 11.1 BTC of volume took no liquidity. The candle also opened above the level and barely went under it, so there was hardly any time spent beyond the level to reject. The order flow doesn't back a long either: Delta 5m is flat and slightly negative (-17.65 BTC), CVD shows a bearish divergence, open interest is flat and there's no CCV in play, so I see no absorption and no fresh buyers. The location is also poor. T1 is pdH/dev high at $80,694, only $152 away, and it already rejected price twice (yesterday at 12:00 and today at 17:15, which then sold off). The risk to the stop is about $280, so the first target pays about 0.5R into resistance that is clearly holding. Price is sitting under the top of a 3-day range, between that pdH ceiling and the value below around $80,150 to $79,950. Price chopping around a POC under a double-top ceiling doesn't give a long with an edge. I'd wait for a real sweep of an obvious extreme like pdL or pwVAL, or for price to be accepted above pdH.