Passe — pas de trade

The gate fired on a 1-minute wick-and-close-back at the developing day POC ($78,014.5) — a 1m close is never a valid trigger on this book, and the most recent CLOSED 15m candle (02:15 UTC, O 78,033.9 / C 77,986.9) is just an inside, sub-5-BTC drift bar, not a close through or a rejection of any level. Price is pinned mid-range between dVAL $77,942 and dVAH $78,095 with VWAP $78,055 overhead — the middle of the developing value area, which the method treats as a no-trade zone — and the tape is flat, not trending (5m delta +0.2 BTC, OI drifting -0.31%, near-zero volume in the Asia lull). No level-reaction trigger, no established trend for a continuation, no swept level reclaimed: all three conditions fail.