Passed — no trade

The trade is a short taken right on top of support. The level swept is the developing VAL at $80,550. It is tier 2, and it is still forming, so it moves as the session builds value. It is not one of the obvious extremes the market watches (#172). The wick went only $82 past it, as a small bounce inside a 45-minute push lower. That reads more like a pause in the move down than a swing failure of a real high. Location is the bigger problem. Entry at $80,491 is $27 above today's low ($80,464.5) and only about $116 above the previous day's low ($80,374.7), a tier-1 level. At 23:10 the previous day's low was already swept and reclaimed: price bounced from $80,374.7 to $81,064. That was a long-side SFP at that low, and this short sells right back into it. The last 1-minute bar printed 28.6 BTC of selling into $80,464.5 but closed $27 off the low. That looks as much like absorption at support as follow-through. The CCV bias is long, the 24h open interest backdrop shows a strong downtrend but 4h open interest is flat, and funding is neutral. T1 at the previous week's low ($79,658) needs the previous day's low to break first. The 10.7:1 to T2 at $77,254 depends on a target that far, not on a good stop. The negative delta and the downtrend do favour shorts. But a weak, still-forming level, a shallow sweep, and entry on a tier-1 low that already held once are not an SFP worth taking. I'd rather wait for a sweep of a real high, like the VWAP / previous week's VAL zone near $80,710 or the day open / POC near $81,050–81,100, or a clean break and acceptance below the previous day's low.