Passed — no trade

The gate fired on a 1m close below VWAP ($77,204) — a 1m close is never a valid trigger, and the most recent CLOSED 15m candle (08:15) closed at $77,178.6 straddling VWAP with no confirming 15m close-and-retest structure, just a slow drift down on tiny volume (6.4 BTC). There is no level-reaction trigger (no rejection wick-and-close at a named level, no reclaim of a swept level), and the tape is not a trend either: 15m/1H are chopping between dVAH $77,447 and dPOC $76,704 with the day's range already inside prior-day value, so a continuation short here would be manufactured from a sideways tape. Reaction quality is also poor — flat 4h open interest (+0.13%), near-zero volume into the level, funding neutral at +0.0041% — so I am declining rather than waiting.