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The gate fired on a 5-minute close below pwVAL ($63,723) — but a 5m close is never a valid trigger on this book, and the last CLOSED 15-minute candle (05:45 UTC, O $63,758.1 H $63,774.4 L $63,721.6 C $63,755.6) closed ABOVE pwVAL, so no 15m close through or rejection at the level exists. Price is also chopping in a $63,640–$63,820 balance right on top of VWAP $63,682, dPOC $63,733 and pwVAL — an in-the-middle, no-trade zone with flat 5m delta (+3.7 BTC) and no reaction quality to confirm either side. Missing element: the confirming 15m trigger.

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