Passe — pas de trade

The only fired level is daily VWAP ($77,670.1) and the reclaim is a 5m close — the 15m candle (11:00 UTC) closed up at $77,671.7 but is a tiny inside-range candle within a $77,339–$77,712 chop band, not a genuine close through or rejection at a meaningful level. There is no established trend to join (1m/5m/15m are sideways with volume of a fraction of a BTC per candle), CVD shows bearish divergence and 5m delta is flat, so flow does not corroborate a long, and the whole day's structure is compressed between dVAL $77,587 and dPOC $77,775 — a middle-of-value no-trade zone. Missing element: a genuine trigger with corroboration; reaction quality at VWAP is poor (no volume, no delta response, OI falling on short-covering).