Passe — pas de trade

The gate fired on a 5m wick-and-close-back under daily VWAP ($78,427.6), but a 5m close is never a valid trigger on this book — the most recent CLOSED 15m candle (03:00 UTC, O 78,374.7 H 78,441.0 L 78,335.7 C 78,350.5) is a tiny inside-range doji that neither rejected nor broke any level with conviction, so no 15m trigger has printed. Structure is also unclear: price is chopping in a ~$300 band between dVAL $78,301 and VWAP/D-Open $78,511, i.e. mid-value no-trade territory, with flat 5m delta (+4.7 BTC), flat OI and no reaction quality at the level. No trend to join, no reaction to trade — pass.