Passe — pas de trade

The gate fired on a 5m wick-and-close-back below pdPOC $86,065.5, but a 5m close is never the named trigger — the most recent CLOSED 15m candle (09:30 UTC, O $85,711.0 H $85,910.9 C $85,842.5) never reached pdPOC, so no 15m rejection candle at the level exists and the 09:45–10:00 15m candle holding the $86,163.5 wick is still FORMING. Corroboration is also mixed for a short: OI is in a healthy uptrend (+1.43% 4h, +3.20% 24h), funding is benign, 5m delta is flat (+18.9 BTC) with no delta response at the level, and price just reclaimed pwVAH $85,711 and D-Open $85,716.5 on the close — a poor reaction to fade. No confirmed trigger = pass.