Passed — no trade

The gate fired on a 5-minute close back below daily VWAP ($77,677.4), but a 5m close is never a valid trigger on this book — the most recent CLOSED 15m candle (09:30 UTC, O $77,592.1 H $77,712.0 L $77,585.2 C $77,615.7) closed UP and is sitting inside the day's tight $77,339–$77,910 balance, not a rejection or a break of any level. Price is pinned between dVAL $77,583 and dPOC $77,775.5 with VWAP $77,677 and W-Open $77,685 stacked in the same few dollars — this is mid-value POC chop, and the method forbids new positions in the middle of value. Flow is also non-committal: Delta 5m flat (-3.1 BTC/30m), OI flat -0.11%, funding near neutral — a poor reaction, so no trade.