Short thesis

Structure: a stacked band of tradeable levels — dVAL $75,557, D-Open $75,542.3 and settled pdVAL $75,412 — was lost in one move. Trigger: the 15m candle that closed 17:45 UTC (O 75,629.1 H 75,647.9 L 75,290.1 C 75,363.2) opened above and CLOSED BELOW all three, a level-reaction close-through of pdVAL; the 17:40 5m close below 75,412 after wicking it corroborates. Price at 75,400 is the shallow front-run retest back into that trigger candle's body at the broken pdVAL itself, not an extension beyond the trigger low — that is the entry the method wants. Corroboration: 4h CVD confirming_down, daily one-time-framing lower (prior day closed at its lows from 78,211), value migrating lower day-over-day, price below daily VWAP 75,730 (resistance), funding neutral +0.01% so no crowded-short squeeze risk, OI flat/weakening on a declining tape. Stop 75,740 sits above the reclaim point of D-Open/dVAL and just beyond VWAP — a 15m close back there proves the breakdown wrong. T1 is the developing day low 75,245 (nearest structure), T2 is the major objective: pdL / week low / month low confluence at $74,855. R:R to T2 = 545/340 ≈ 1.6:1 — below the 2:1 general rule, but this is a with-bias trade and I am not inflating it; instead, sizing more at T1 and T2. T3 is the extension toward open space beneath the multi-period low at 74,400. Larger 20% at T1 is the named lower-confidence allowance given the sub-2:1 payoff and thin late-session volume.