Short thesis

Level-reaction short: the 15m candle that closed 19:45 UTC opened above and CLOSED BELOW three stacked levels — pwVAL $83,388, developing dPOC $83,420.5 and daily VWAP $83,244.8 — a clean loss of value/fair-value on the biggest 15m volume of the afternoon (75.4 BTC), and price is currently at that broken VWAP/level itself, so this IS the retest rather than an extension. Corroboration: 5m taker delta is confirming_down (-65.2 BTC/30m), the day opened at $84,404 and the whole session is lower highs/lower lows down from the dHigh $84,934.9, funding still mildly positive with 24h OI backdrop weakening — sellers in control below VWAP where VWAP now acts as resistance. Stop $83,600 sits above the 19:00–19:30 15m swing highs / the trigger candle body, invalidating the reclaim thesis; T1 is dVAL $82,788 (nearest structural edge), T2 is the developing day low $82,463.4 (main objective), T3 the naked POC below at $81,323.5. Risk $362 vs reward to T2 $774 = 2.1:1, clearing the floor. Larger 30% at T1 named for low confidence: this is a counter-position against my existing open long runner on this book and the day tape is choppy, so I bank more early and the stop goes to breakeven on T1.