Passe — pas de trade

The only trigger is a 15m close back below dPOC/VWAP on 12.5 BTC of first-15-minutes-of-month volume — a thin, low-participation candle with Delta 5m flat (-4.7 BTC) and OI flat (+0.10% over 4h): a poor reaction at the level, which is itself sufficient to pass. Structure is also conflicted: the same candle swept pwVAL ($83,388) and the developing day low and closed back above them (bullish SFP shape) while losing dPOC/VWAP (bearish), so there is no corroborated directional read, and the tape is ranging around $83.4–83.7k rather than trending. No clean location with corroboration — stand aside until the 30-minute/New York profile defines value.