BTCUSDT – Long from Support | UpdateBTCUSDT SPOTBYBIT:BTCUSDTrudyplFollowing up on yesterday's short idea. TP1 at 70.5k was reached and the setup played out cleanly. Price has now come down and is sitting right at the 69.2k support level which is exactly where I was looking to get long. I have entered a long position here. The thesis is simple. Negative funding is building at -0.0091%, which means the market is overly short at these levels and shorts are paying longs. That is a contrarian signal that historically precedes short squeezes, not continuation lower. The 4h gap above at 70,150–70,700 remains open and is the first magnet to the upside. Above that 71,600-72,300 is the next resistance and the area where I would look to take partial/full profits. Invalidation is a clean break and hold below 68,150 on increasing volume with negative CVD. That would open the door to 67,200 which is the hard support and the last line before the weekly range low at 67k comes back into play. For now the bias is neutral to bullish at these levels. Negative funding, oversold RSI on the 1h, and sitting on a key demand zone. Risk is defined and the setup is clean. Rejects demand zone → out. Holds and reclaims 69,400 → targets 70,400–70,800.