Long thesis

Structure: the 04:00 UTC 15m candle swept the developing day low / dVAL ($79,569.0–79,569.1) — a level defined earlier in the session — wicked to $79,569.1 and CLOSED back up at $79,817.5, above both dVAL and pdEQ ($79,665.3): a sweep-reclaim / SFP of an obvious, stop-rich intraday low, corroborated by the 04:10 5m close back above pdEQ (gate trigger) and the 1m reclaim. Corroboration: daily structure is one-time-framing up (higher lows 77,576 → 78,510 → 79,569, prior day closed up on the highs at 80,216), funding is near-neutral at +0.0021% so longs are not crowded, OI is falling into the flush (shorts/stops, not new long trapping) and 5m delta is flat (−51 BTC) against a fresh price low — sellers refused to confirm the new extreme, the classic absorption tell at a swept low. Entry is the reclaim close at $79,817.5, stop $79,420 sits ~0.25% beyond the $79,569 sweep wick where the failed auction is proven wrong. T1 = D-Open $80,216.2 (nearest structure/reference), T2 = dVAH $80,782.0 (main objective, just under daily VWAP-cluster and the value-area edge), T3 = the developing day high $81,468.1. R:R to T2 = 964/398 ≈ 2.4:1, clearing the 2:1 floor. T1 fraction 0.20 kept modest since this is a with-trend reclaim, not a counter-trend fade.