{ "ticker": { "uuid": "13e8586b-f5b5-4bde-b639-7feb8b2dfcf9", "symbol": "BLTH", "name": "iShares Blockchain Technology UCITS ETF USD Cap", "exchange": "MIL", "country": "IT", "assetType": "etf" }, "methodBoundary": "Trend Architecture is a weekly structural classification, not a forecast, probability of return, recommendation or execution signal. Confidence measures geometric agreement and external confirmation only.", "analysis": { "eligible": true, "as_of": "2026-08-07", "benchmark": "FTSEMIB.MI", "stage": 3, "stage_name": "Distribution", "phase": "3c", "phase_label": "Stage 3C \u00b7 Breakdown watch", "transition": "stage_3_to_4_watch", "transition_label": "Stage 3 \u2192 4 watch", "confidence": 90.579, "architecture_regime": "deceleration", "architecture_regime_label": "Deceleration", "architecture_modifier": "Recompressing", "architecture_gate": "mixed", "architecture_direction": -19.844, "architecture_energy": 28.68, "architecture_maturity": 39.189, "architecture_confidence": 58.389, "architecture_tenure": "Developing", "architecture": { "interpretation": { "headline": "The upward structure remains, but its energy is decelerating.", "body": "Trend remains positive, but Activity or price acceptance is losing strength. This can become a healthy recompression, a re-acceleration, or a Rotation Down." }, "scores": { "balance": 48.06, "rotation_up": 14.46, "upward_expansion": 15.97, "deceleration": 63.33, "rotation_down": 60.39, "downward_expansion": 40.97 }, "activity_lines": [ 14.331733, 14.903345, 15.408914, 15.018185 ], "activity_state": "Moderate", "activity_direction": "Contracting", "rotation_direction": "Weakening", "price_acceptance": -0.5 }, "latest_close": 14.23, "trend_reference": 14.553, "distance_from_trend": -0.022195, "trend_direction": "Improving", "fair_value": 11.352641, "distance_from_fair_value": 0.253453, "fair_value_direction": "Weakening", "relative_strength": -18.351449, "relative_strength_direction": "Weakening", "price_momentum": 0.170615, "excess_performance": -0.000276, "evidence": [ { "label": "Price vs Trend", "positive": false, "value": -0.022195, "read": "Below" }, { "label": "Trend direction", "positive": true, "value": 0.01673, "read": "Rising" }, { "label": "Price vs 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-4.251107, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 58.6645, "energy": 42.439697, "activity_lines": [ 16.8024, 16.717346, 15.598514, 15.00892 ] }, { "date": "2026-07-03", "close": 15.24, "volume": 27451, "typical_volume": 42814.45, "trend": 14.5378, "fair_value": 11.119205, "relative_strength": -12.106518, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 44.066307, "energy": 30.465654, "activity_lines": [ 16.237867, 16.506946, 15.656305, 15.054477 ] }, { "date": "2026-07-10", "close": 15.286, "volume": 100417, "typical_volume": 44302.05, "trend": 14.554867, "fair_value": 11.167929, "relative_strength": -11.347142, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 36.856249, "energy": 20.908191, "activity_lines": [ 15.8684, 16.301418, 15.705248, 15.102748 ] }, { "date": "2026-07-17", "close": 13.632, "volume": 64784, "typical_volume": 46816.45, "trend": 14.543267, "fair_value": 11.208519, "relative_strength": -19.471399, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 3.503539, "energy": 19.375844, "activity_lines": [ 14.992667, 15.778255, 15.582971, 15.043209 ] }, { "date": "2026-07-24", "close": 15.044, "volume": 45043, "typical_volume": 46442.0, "trend": 14.577267, "fair_value": 11.25725, "relative_strength": -10.821545, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 9.722235, "energy": 21.580444, "activity_lines": [ 14.814933, 15.561709, 15.589505, 15.075514 ] }, { "date": "2026-07-31", "close": 14.036, "volume": 26982, "typical_volume": 46117.2, "trend": 14.577333, "fair_value": 11.30309, "relative_strength": -17.219792, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "mixed", "direction": -20.751405, "energy": 26.89588, "activity_lines": [ 14.470933, 15.187091, 15.491476, 15.040594 ] }, { "date": "2026-08-07", "close": 14.23, "volume": 166306, "typical_volume": 52149.5, "trend": 14.553, "fair_value": 11.352641, "relative_strength": -18.351449, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "mixed", "direction": -19.844429, "energy": 28.680168, "activity_lines": [ 14.331733, 14.903345, 15.408914, 15.018185 ] } ], "method": { "price_basis": "completed market observations", "trend": "Trend provides the primary directional reference.", "fair_value": "Fair Value provides long-term price context and is not a forecast or target.", "relative_strength": "Relative Strength shows leadership or lagging performance against the market benchmark.", "classification": "The SM framework combines Trend, Activity, Fair Value, Relative Strength and participation into a structural read." } } }