Passe — pas de trade

The only tradeable structure firing is M-Open $78,511.5, where the 14:45 15m candle wicked above ($78,564.8) and closed back below ($78,457.2) — a marginal rejection at best, but the broader read contradicts a short: CVD is confirming_up (+693.8 BTC), price is well above daily VWAP $77,784.7 and dVAH, the day is making higher highs off $76,282.8, and the 24h OI backdrop is a healthy uptrend. Fading a strong intraday uptrend into a shallow monthly-open poke, with only a -81 BTC 5m delta divergence as evidence, is a poor-quality reaction and against the flow; a short is also constrained by the open long on this book. No corroborated setup — pass.