Passe — pas de trade

The gate fired on a 15m close back below dVAH $77,349 (04:00 candle, open $77,479.6 → close $77,293.9), but this is a low-conviction, low-volume drift-back rather than a clean rejection: the candle traded only 12.4 BTC, there is no wick-and-close-back rejection shape, and price is now sitting essentially on top of daily VWAP $77,083 / D-Open $77,353 in the middle of the day's range — a no-trade zone between dVAL $76,644 and dHigh $77,718. Corroboration is also mixed: 4h CVD is confirming_up and the last 4H/1H candles closed UP off the $76,644 low, while only the 5m delta is mildly negative, so a short here would be fading a fresh bounce into thin flow with the developing POC $76,704 as the only near target (~R:R under 2:1 against a stop above $77,718). No trigger of sufficient quality plus contradicted directional read = pass.