Passe — pas de trade

The gate fired on a 5-minute wick-and-reclaim of the developing dPOC ($77,109.5), but a 5m close is never a valid trigger on this book — the most recent CLOSED 15m candle (00:45 UTC, O 77,152.0 H 77,202.0 L 77,102.1 C 77,148.1) is a tiny inside doji that neither closed through nor rejected the level with any conviction. Volume into the level is negligible (0.4–6 BTC per 5m bar) and Delta 5m is flat (-7.1 BTC/30m), so there is no reaction quality at the level; the tape is dead-of-night chop between dVAL $77,050 and dVAH $77,322 with price sitting on daily VWAP $77,227.6 — mid-value, the classic no-trade zone. Direction is also uncorroborated: 4h CVD confirming down and a down daily close argue lower, while OI is building and F&G is Greed — no confluence, so I pass.