Passe — pas de trade

The gate fired a 30m close below the M 6-candle VAH ($78,500) — but that is a marginal, chop-bound trigger, not a clean short location: price has whipsawed across $78,500 six times in the last four hours, and the 13:30 candle already flushed to $77,576.9 (weekly/month-to-date low) and was bought back with a strong 4H close up, so a short here is fading momentum into freshly-defended support (wLow $77,576.9 / mVAL $77,047 / pwVAL $76,970) rather than trading a clean rejection. Corroboration is also mixed: funding is positive and Fear & Greed at 69 with the last weekly and monthly candles closed up, while open interest is falling into the lows (shorts covering, not trapped longs). With the nearest genuine downside objective (pwVAL $76,970) only ~$1,450 away versus a stop that must sit above the day POC/VAH (~$78,850+), the R:R to T2 is under 2:1 — no trade.