Passe — pas de trade

The gate fired on a 5m wick-and-close-back at the developing VAH ($78,806), but a 5m close is never a valid trigger on this book — the 15m candle that closed at 04:15 closed UP at $78,762.5 with its high at $78,852, and the current 15m is still FORMING, so no 15m rejection close at dVAH has printed. Structure also argues against a fade here: price is above VWAP ($78,536), above D-Open/M-Open ($78,511.5) and above dPOC, grinding higher into the day high — a developing VA edge in an intraday uptrend with flat 5m delta (+3.5 BTC) gives no reaction quality to trade against. Missing element: the confirming 15-minute trigger close.