Thèse Short

The settled previous-week VAL at $62,518 was retested from below and rejected by the closed 14:25 UTC 5m candle, which wicked to $62,567.1 and closed back below at $62,478.8. The rejection is corroborated by bearish intraday structure, confirming-down 4h CVD, negative 5m delta, rising OI during the selloff, and positive funding, although the CCV long bias is a counter-signal. Entry is at the trigger close, with invalidation buffered beyond its wick at $62,690; T1 is the developing day/week VAL at $62,176 and T2 is the prior-week low/monthly VAL confluence near $61,209.9, giving approximately 6.0:1 R:R to T2.