Passed — no trade

The only trigger on the tape is a 5-minute close back above pdVAL ($62,918) — a 1m/5m close can corroborate but is never the named trigger, and the most recent CLOSED 15m candle (12:45 UTC, O 62,886.8 / C 62,913.3) closed BELOW pdVAL, so no 15-minute confirmation exists. Reaction quality is also poor: the whole session is a dead $200 coil on ~1 BTC prints, OI flat -0.09%, 5m delta flat (+0.8 BTC) and 4h CVD confirming down, so aggressive flow is not backing the reclaim. Price is sitting almost exactly on daily VWAP/pdEQ in the middle of a balanced range — the POC-chop no-trade zone — with no clean structural edge in reach.