Passe — pas de trade

The gate fired on a 5-minute close back above the developing VAH ($77,696) — but a 5m close is never a valid trigger on this book, and the last CLOSED 15m candle (10:30 UTC, O $77,884.6 H $77,923.1 L $77,567.5 C $77,798.1) is a small down-close chopping either side of the level, not a close through it or a rejection at it. Price is also parked in the middle of a $77.2k–$79.5k post-spike chop with 5m delta fading down (-13.3 BTC) while the 4h CVD is up — flow is mixed, and the day is a huge +8% vertical expansion day with the dVAH still developing underneath price, so no clean level-reaction, no trend-continuation close, and no swept-and-reclaimed level. No trigger, no trade.