Short thesis

Structure: settled previous-day high (Tier 1) at $85,197.3 — an obvious, stop-rich level — was swept and rejected. Trigger: the 16:45 UTC 15-minute candle wicked above to $85,241.0 and CLOSED back below at $85,103.8 (SFP / rejection at the level), which is entered at the close since the wick itself defines the invalidation. Corroboration: CCV bias is short with acceptance armed, price is well below daily VWAP $86,063.9 and below the developing dVAL $85,809 (acceptance back inside value argues for rotation to the lower edge), 4h CVD confirming_down, funding flat/neutral, and open interest falling into the push (-2.88% on 4h) so the up-move was short-covering rather than new demand — the 4h candle also closed down hard from $87,207 to $85,265. Stop $85,450 gives ~0.25% room beyond the sweep wick; T1 is the D-Open $84,806.6 (nearest structure, where the day began), T2 is pwPOC $84,396.5 (major settled weekly POC and prior-day EQ zone), T3 extends to the naked daily POC / pdPOC $83,877.5. Risk:Reward entry to T2 = 716/337 ≈ 2.1:1, clearing the 2:1 floor; T1 fraction 0.20 within the default band, with stop to breakeven once T1 books.