Passe — pas de trade

The fired trigger is a marginal one: the 09:15 15m candle poked $78,446.5 above dVAL $78,431.0 and closed $78,409.4 just below it — a $22 rejection inside noise, on 14.7 BTC, with 5m delta flat (+4.1 BTC/30m) and no delta response at the level, i.e. a poor reaction. Corroboration also conflicts: CVD shows a bullish divergence and price sits just above the M-Open $78,511.5 / D-nPOC↓ $77,753.5 zone with the day low $78,109.9 freshly made, so shorting here would be fading momentum into support rather than trading a clean rejection. No clean level-reaction, and the reaction quality is insufficient — pass.