Short thesis

Structure: the developing weekly value area low (wVAL $75,499, a weekly-profile level from the tradeable set) has been lost — value is building lower all week (pwVAL $76,481 and pwPOC $77,139 already broken and now overhead resistance), and the 4H/daily structure is a clean series of lower highs (79,557 → 78,211 → 77,261) and lower lows into 74,855. Trigger: the 21:30 UTC 30m candle CLOSED at $75,359.9, opening above wVAL $75,499 and closing below it — a level-reaction close THROUGH the weekly value-area edge, per TRIGGER FACTS/GATE CONTEXT. Corroboration is separate from that candle: price is well below daily VWAP $76,481 and below the day, week and month opens (78,136 / 76,748 / 78,511), funding still positive (+0.010%) with Fear & Greed at 69 Greed — longs are paying and positioned wrong — and open interest is building on the 4h (+2.30%) into the breakdown, i.e. new positions trapped above value. Entry at the close/current $75,291; stop $76,890 sits above the 18:00–17:30 rejection shelf and back inside prior value, which is where the loss of wVAL is proven wrong (wider than an intraday stop, off the obvious 75,900/76,400 liquidity). T1 $74,855 is the developing week/month low — the nearest meaningful HTF structure; T2 $72,250 is the monthly 6-candle volume POC, the main objective and the big untested value shelf below; T3 $71,743.5 is the naked daily POC below, the next major magnet. Risk:Reward to T2 is ($75,291−$72,250)/($76,890−$75,291) = 3,041/1,599 ≈ 1.9:1... measured honestly it is 1.90:1, so I take the nearer, more conservative stop reading: from entry to stop $1,599 against $3,041 of reward — I keep T1 sized at 0.20 given T1 is a minor, very near level and the runner carries the trend leg.