Passe — pas de trade

No clean trigger: the only 15m close available (11:45 UTC) closed marginally back above pwVAL/VWAP but price has already slipped back beneath both, so the reclaim is unconfirmed and the gate's VWAP break is only a 5m close, which can never be the named trigger. Structurally price is chopping in a tight $76,675–$77,430 balance right at daily VWAP/pwVAL — the middle of the range — with CCV acceptance failed, 4h CVD confirming down against the stated long_bias, and 5m delta confirming up: conflicting signals with no edge. Volume into the level is thin and open interest is bleeding, a poor reaction that argues for standing aside.