Short thesis

Structure: pwVAL $83,072 (Tier-1 settled previous-week value area low) lost — price is breaking out of previous-week value to the downside, with daily VWAP $83,138 and pdVAL $83,109 lost in the same move (stacked confluence overhead). Trigger: the 15m candle that CLOSED 02:00 UTC opened at $83,190.4 ABOVE pwVAL/VWAP/pdVAL and closed BELOW all three at $83,020.5 — a confirmed close through the level; current price $83,018 is still at the broken level itself, i.e. the entry is the retest/front-run of pwVAL, not an extension beyond it. Corroboration: 4H CVD confirming_down, 5m taker delta confirming_down (-112.7 BTC/30m), funding mildly positive (longs still paying into a falling tape), OI weakening on the 4h while price grinds lower, daily structure strongly bearish (yesterday's daily closed down from $85,554 to $83,244, value migrating lower day over day); CCV not in play so nothing contradicts the short. Stop $83,290 sits ~0.33% above entry, beyond the 15m trigger body and the pwVAL/VWAP cluster — a reclaim of value invalidates. T1 $82,684 = pdL/week-low (nearest meaningful structure); T2 $82,463.4 = pwL, the main objective; T3 $81,323.5 = the nearest naked daily POC below, the magnet beyond the weekly low. R:R to T2 = (83,018.3-82,463.4)/(83,290-83,018.3) = 554.9/271.7 ≈ 2.04:1, clearing the 2:1 floor. Larger 30% at T1 because the trade is held against an existing open long on this book and price has already pressed the lows once — low confidence in a clean run through pwL in one leg.