Passe — pas de trade

The gate fired on a 5m close back below the developing dVAH ($81,256), but a 5m close is never a valid trigger on this book — the most recent CLOSED 15m candle (00:30 UTC) actually closed UP at $81,165.5 after wicking to $81,392.4, i.e. no 15m close through or rejection of the level has printed. Price is also sitting essentially on daily VWAP ($81,195) / dPOC ($81,131) in the middle of a very tight 15m value area — the no-trade zone — with flat 5m delta (-3.3 BTC) and negligible volume, a poor reaction. Structure is a strong bullish day (+5.4%, D closed up hard) against a short-lean CCV, so the read is conflicted as well as untriggered.