Passe — pas de trade

The 15m close at 02:45 did break below pwVAL/dVAL/VWAP, but this is a dead, ultra-thin overnight tape (2.1–6 BTC per 15m candle, 0.0 BTC on the forming bar) with 5m delta flat (+2.3 BTC) — no delta response and no volume behind the break, which is a poor reaction and a sufficient reason to pass on its own. Price is also sitting right on the developing day low ($83,324.4) and monthly open-period VAL/POC cluster ($83,324–83,325), i.e. a continuation short would be fading momentum straight into support, which is forbidden; and no retest of the broken dVAL/pwVAL has occurred. 4h OI is weakening (-0.40%) into the move, so the breakdown is covering rather than new shorts.