Passe — pas de trade

The gate fired on a 5m close through the developing VAH ($77,274) — but a 5m close is never a valid trigger on this book, and the most recent CLOSED 15m candle (17:45 UTC, O $77,230 / C $77,310) is a small inside-range candle that never opened below and closed decisively through the dVAH with conviction; it is barely 30 points of body above a level price has chopped across all afternoon. Corroboration is also mixed-to-negative for a long: CVD is confirming_down, the 5m delta reads bearish divergence (-37.2 BTC) into this push, price is still below the D-Open ($77,353.6) and W-Open ($77,650.6), and the daily closed down yesterday. No qualifying 15m trigger plus contradicting flow = no trade.