Passe — pas de trade

The only thing that fired is a 5m wick-and-close-back below the developing dVAH ($78,227) — a 5m close is never a valid trigger on this book, and the 15m candle that matters (00:15 close) closed UP inside the day's tiny 180-dollar range, not as a rejection. Price is sitting essentially on VWAP ($78,169) / dPOC ($78,152) in the dead middle of a 78,092–78,273 balance with near-zero volume (0.4 BTC on the last 15m), flat 5m delta (+3.6 BTC) and flat OI — a poor reaction and mid-range no-trade zone. No confirming 15m trigger and no meaningful reaction quality: pass.