Passe — pas de trade

No clean setup. Price is pinned to daily VWAP ($64,690) and the developing POC ($64,685.5) — i.e. sitting on fair value, not at a tradeable structural edge or swept obvious level. The gate 1m close below VWAP is a micro, near-zero-volume flicker (0.2 BTC) inside a tight 15m/1H range, not a confirmed reaction at a strong level; no failed-auction, SFP, or with-trend continuation trigger has printed. Signals also conflict: CCV short_bias and 4H OI downtrend lean short, but 5m delta is flat/positive and the tape is choppy sideways, so there is no established trend to join and no corroborated directional read. Absence of a genuine trigger at a worthwhile level is sufficient to pass.