Passe — pas de trade

The gate fired on a 5-minute wick-and-close-back below pdEQ ($79,665.3), but a 5m close can never be the named trigger — and the most recent CLOSED 15m candle (12:00 UTC, O $79,556.4 H $79,635.3 C $79,484.0) never traded above pdEQ, so there is no 15m rejection or close through the level. Corroboration is also mixed: price is chopping in a $79.2k–$79.8k band under VWAP/D-open with flat 5m delta (+1.5 BTC), flat OI and 24h OI in a healthy uptrend against a mildly bearish 4h CVD — no trend to join and a poor, low-volume reaction at the level. No trigger, so this is a watch, not a trade.