Passe — pas de trade

The last closed 15m candle (13:30 UTC) is a bearish rejection that lost pdH $79,423.1 and dPOC $79,453.5 while merely wicking VWAP and closing back above it — so the structural read is mixed: bearish through the day's value edges but a VWAP hold. That leaves no clean, corroborated location: a short would be fading into VWAP/dVAL support ($79,017–79,173) with the objective only ~$400 away (R:R well under 2:1 against a stop above $79,650), and a long off the VWAP reclaim is contradicted by bearish CVD divergence, confirming-down 5m delta and short-covering OI. No qualifying trigger with corroboration in either direction — pass.