Passe — pas de trade

The only trigger on the tape is a bearish rejection 15m close back below pwVAL $83,072 / dVAH $83,062 — a SHORT signal, and this book already has an open short (T1 not booked), so that direction is barred. There is no corroborated long trigger: price is beneath the day open $83,244 and the rejected value edges, CVD shows bearish divergence and 5m delta is flat (+1.6 BTC, no demand response), with the daily structure down from $85,554. Nothing to do on the long side without a reclaim close back above pwVAL.