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The gate fired on a 5m rejection of pdEQ ($64,366.2), but a 5m close is never a valid trigger on this book — the last CLOSED 15m candle (18:15 UTC, O 64,443.1 / C 64,420.6) closed above pdEQ and is a small inside-range down bar, not a close through or a rejection at the level. Price is also drifting in dead space between dVAL/pdEQ ($64,366–64,385) and VWAP $64,476 on shrinking volume with flat 5m delta (−0.1 BTC/30m) and slipping OI — a poor reaction, no confirming 15m close, so no trade.

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