Long thesis

Level-reaction long at the developing day POC ($77,490.5) with daily VWAP ($77,578.6) stacked just above it: the 13:00 UTC 15-minute candle wicked below both (low $77,416.6) and CLOSED back above them at $77,644.3 — a rejection AT the level (wick-and-close-back), which the method allows to be entered at the close, with the wick itself defining invalidation. Corroboration: 4h CVD reads bullish_divergence, funding is neutral-normal at +0.01% (no trapped-long premium), the 24h OI backdrop is a healthy uptrend with the 4h leg only short-covering, sentiment 57 Greed, and the day has migrated value entirely above the previous day (pdVAH $77,104 / pdPOC $76,731) with price above the day open $76,748.8 — value migrating higher means look for longs on dips, not shorts; CCV is not in play so nothing contradicts. Entry here at $77,663.2 is on the reclaim close just above dPOC/VWAP; stop $77,250 sits ~0.2% below the sweep wick and under dVAL $77,254 — a close back there means dPOC/VWAP are genuinely lost. T1 is dVAH $77,801 (nearest meaningful structure), T2 the developing day high $78,320 (main objective), T3 pwVAH $78,838; risk $413 vs reward to T2 $657 = 1.6:1, so I cite the named CCV-family reaction setup below. 20% booked at T1 reflects the nearby minor level and the down-closing 5m delta (-12.2 BTC) arguing the first push may stall.