Passe — pas de trade

The "trigger" is a 15m candle with a $19 body and 0.1 BTC of volume in a dead overnight tape — price is pinned at pdEQ/dVAH/dPOC/VWAP/D-Open all stacked within $13 of each other, i.e. dead-centre of value, the definition of POC chop and a no-trade zone. There is no established trend (1m/5m/15m all sideways in a $56 range), no swept obvious level, and delta is flat (-2.4 BTC/30m) with OI showing only minor short covering — a poor reaction at the level, which is itself sufficient to pass. Any honest stop beyond the $77,261 day high against a T2 at the nearest real structure (pdL $77,004 or pdH $77,458) also fails to give a clean read; direction is simply not resolved.