Passe — pas de trade

The only trigger is a 15m close marginally below the developing dPOC ($77,239.5) — a $50 slip inside mid-range chop, with flat 5m delta (+1.9 BTC), CVD confirming up, funding neutral-positive, OI in a healthy uptrend and CCV bias long/activated. A short here fades the bias into the developing POC/mid-value with no corroboration and a poor reaction (tiny volume, no delta response), and price sits above VWAP $76,979.7 and D-Open $76,494.9 — value is building up, not down. Missing corroboration and reaction quality; only a short may be recorded on this book, and no valid short exists.