Passe — pas de trade

The only "trigger" here is a 5-minute close below the day open ($78,199) — a 5m close is never a valid named trigger on this book, and the 15m that closed at 00:00 UTC ($78,199 → $78,110.7) closed below the D-Open but price has already popped straight back above it and is now sitting on VWAP $78,169 / dPOC $78,152, i.e. right in the middle of a $180-wide developing value area with no clean level reaction. Price is also mid-range on the 1H/4H (chop between pdEQ $77,814 and pdH $78,289) with a bullish CVD/delta divergence contradicting any short, and volume on the new day is minimal (12.9 BTC) — a poor reaction, no confluence, no directional read. This is the no-trade zone at the middle of the profile.