{"schema_version":"1.0","name":"IBIT Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-21","ticker":{"uuid":"09c4dcea-d425-408d-87be-5cee38b01bc9","symbol":"IBIT","name":"iShares Bitcoin ETF","exchange":"ASX","country":"AU","asset_type":"etf","currency":"AUD","sector":null,"industry":null},"summary":"Market Dynamics improved this week but remains below zero. Underlying support has strengthened across the recent completed path. Price remains elevated in the distribution zone.","sections":[{"name":"Executive technical read","description":"Completed-week price state, Market Dynamics alignment, current price and the principal technical KPIs."},{"name":"Market Dynamics","description":"The proprietary relationship between completed price, underlying support, positioning zones and confirmation."},{"name":"Ticker evidence record","description":"Current application, comparable historical conditions, zone outcomes and practical review conditions."},{"name":"Adaptive technical evidence","description":"Six condition-selected views: Trend, acceptance and volatility envelope, Activity pressure and cumulative balance, Drawdown and recovery pressure, Range position and boundary pressure, Acceleration, deceleration and rollover, Range pressure and compression."},{"name":"SM Tape Intelligence","description":"Resolved consensus with Control, Force, Direction and Confirmation gauges against completed price."},{"name":"Research boundary","description":"Dated scope, interpretation limits, methodology version and source references."}],"research":{"available":true,"asOf":"2026-08-21","observations":38,"displayedObservations":38,"assetType":"ETF","state":"Rotational","stateTone":"caution","summary":"Market Dynamics improved this week but remains below zero. Underlying support has strengthened across the recent completed path. Price remains elevated in the distribution zone.","evidenceAlignment":{"status":"Unsupported elevation","headline":"Price remains elevated without full Market Dynamics support","summary":"Market Dynamics improved this week but remains below zero. Underlying support has strengthened across the recent completed path. Price remains elevated in the distribution zone.","take":"This is a downside warning, not a confirmed reversal. Stronger Market Dynamics would repair the gap; weaker price would begin to confirm it.","tone":"negative","conflict":true},"marketDynamics":{"available":true,"readAvailable":true,"dates":["2026-06-19","2026-06-26","2026-07-03","2026-07-10","2026-07-17","2026-07-24","2026-07-31","2026-08-07","2026-08-14","2026-08-21"],"values":[-0.267754,-0.425248,-0.51288,-0.567658,-0.593868,-0.508401,-0.402035,-0.2879,-0.137822,-0.084889],"opens":[17.09,16.5,16.870001,17.299999,17.33,17.5,17.790001,17.15,17.450001,16.9],"highs":[17.09,16.549999,16.889999,17.51,17.34,18.1,17.790001,17.639999,17.530001,20.129999],"lows":[16.98,16.1,16.76,17.25,17.09,17.42,17.129999,16.92,17.0,16.77],"closes":[17.0,16.450001,16.860001,17.5,17.09,17.799999,17.32,17.34,17.0,20.030001],"hoverRows":[[{"label":"Open","value":"17.1","className":"is-ohlc","compact":true},{"label":"High","value":"17.1","className":"is-ohlc","compact":true},{"label":"Low","value":"17.0","className":"is-ohlc","compact":true},{"label":"Close","value":"17.0","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.27","note":"Cautious and weakening","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"16.5","className":"is-ohlc","compact":true},{"label":"High","value":"16.5","className":"is-ohlc","compact":true},{"label":"Low","value":"16.1","className":"is-ohlc","compact":true},{"label":"Close","value":"16.5","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.43","note":"Cautious and weakening","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"16.9","className":"is-ohlc","compact":true},{"label":"High","value":"16.9","className":"is-ohlc","compact":true},{"label":"Low","value":"16.8","className":"is-ohlc","compact":true},{"label":"Close","value":"16.9","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.51","note":"Cautious and weakening","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"17.3","className":"is-ohlc","compact":true},{"label":"High","value":"17.5","className":"is-ohlc","compact":true},{"label":"Low","value":"17.2","className":"is-ohlc","compact":true},{"label":"Close","value":"17.5","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.57","note":"Cautious and weakening","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"17.3","className":"is-ohlc","compact":true},{"label":"High","value":"17.3","className":"is-ohlc","compact":true},{"label":"Low","value":"17.1","className":"is-ohlc","compact":true},{"label":"Close","value":"17.1","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.59","note":"Cautious and weakening","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"17.5","className":"is-ohlc","compact":true},{"label":"High","value":"18.1","className":"is-ohlc","compact":true},{"label":"Low","value":"17.4","className":"is-ohlc","compact":true},{"label":"Close","value":"17.8","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.51","note":"Cautious but repairing","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"17.8","className":"is-ohlc","compact":true},{"label":"High","value":"17.8","className":"is-ohlc","compact":true},{"label":"Low","value":"17.1","className":"is-ohlc","compact":true},{"label":"Close","value":"17.3","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.40","note":"Cautious but repairing","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"17.1","className":"is-ohlc","compact":true},{"label":"High","value":"17.6","className":"is-ohlc","compact":true},{"label":"Low","value":"16.9","className":"is-ohlc","compact":true},{"label":"Close","value":"17.3","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.29","note":"Cautious but repairing","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"17.5","className":"is-ohlc","compact":true},{"label":"High","value":"17.5","className":"is-ohlc","compact":true},{"label":"Low","value":"17.0","className":"is-ohlc","compact":true},{"label":"Close","value":"17.0","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.14","note":"Cautious but repairing","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"16.9","className":"is-ohlc","compact":true},{"label":"High","value":"20.1","className":"is-ohlc","compact":true},{"label":"Low","value":"16.8","className":"is-ohlc","compact":true},{"label":"Close","value":"20.0","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"-0.08","note":"Cautious but repairing","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}]],"pressureRange":[-2.3,2.3],"priceRange":[16.235201,20.244801],"zones":{"accumulationBoundary":-1.5,"accumulationDarkBoundary":-2.0,"distributionBoundary":1.5,"distributionDarkBoundary":2.0},"latest":-0.084889,"state":"Price ahead of Market Dynamics","context":{"scenario":"priceAhead","latestDirection":"strengthening","fourWeekDirection":"strengthening","now":{"label":"Stronger this week","detail":"Market Dynamics improved this week but remains below zero."},"fourWeek":{"label":"Strengthened over four weeks","detail":"Underlying support has strengthened across the recent completed path."},"price":{"label":"Price is ahead of the underlying support","detail":"Price is extended relative to Market Dynamics. The gap is a downside-risk warning until support catches up or price resets."}},"diagnosis":{"label":"Unsupported elevation","detail":"Price is in distribution and ahead of Market Dynamics. The advance is not fully confirmed while that gap remains open.","tone":"negative"},"chartSummary":"Price is in the distribution zone. The Market Dynamics bars show whether underlying support is keeping pace with that elevated price.","summary":"Price is in distribution and ahead of Market Dynamics. The advance is not fully confirmed while that gap remains open.","annotations":[{"label":"Current tape relationship","value":"Unsupported elevation","detail":"Market Dynamics improved this week but remains below zero.","tone":"negative"},{"label":"Price location","value":"Distribution zone","detail":"Price is extended; support can persist, but rollover risk must be monitored.","tone":"caution"},{"label":"Latest positioning marker","value":"None in view","detail":"Entering the lower zone alone does not create a positioning confirmation.","tone":"neutral"},{"label":"Market Dynamics confirmation","value":"Not confirming","detail":"Market Dynamics has strengthened over four weeks, but it still lags the elevated price.","tone":"negative"}],"relationshipEvidence":{"available":false,"observations":10,"summary":"More completed weekly history is needed for a dependable ticker-level record."},"events":{"positioning_recoveries":[],"reversal_warnings":[],"reversal_dangers":[]}},"smTape":{"available":true,"dates":["2025-12-05","2025-12-12","2025-12-19","2025-12-26","2026-01-02","2026-01-09","2026-01-16","2026-01-23","2026-01-30","2026-02-06","2026-02-13","2026-02-20","2026-02-27","2026-03-06","2026-03-13","2026-03-20","2026-03-27","2026-04-03","2026-04-10","2026-04-17","2026-04-24","2026-05-01","2026-05-08","2026-05-15","2026-05-22","2026-05-29","2026-06-05","2026-06-12","2026-06-19","2026-06-26","2026-07-03","2026-07-10","2026-07-17","2026-07-24","2026-07-31","2026-08-07","2026-08-14","2026-08-21"],"close":[26.5,26.36,25.06,24.72,25.18,25.87,27.0,24.95,22.52,17.78,17.81,18.16,18.0,19.08,19.19,18.97,18.87,18.34,19.37,19.8,20.76,20.37,20.95,21.29,20.61,19.54,16.79,17.09,17.0,16.45,16.86,17.5,17.09,17.8,17.32,17.34,17.0,20.03],"consensus":[44.8598,37.9314,0.0,-53.0848,-26.7714,0.0,35.2349,-41.7338,-70.1894,-83.0226,-58.8485,-44.4277,-40.666,0.0,0.0,-29.9851,-15.3355,-38.218,11.0463,13.8087,39.9263,0.0,23.5785,29.877,0.0,-37.6572,-56.3879,-42.2887,-42.5267,-36.579,-10.8532,0.0,-35.2943,20.2338,-24.0448,-8.1054,-38.5522,-69.1603],"supportDates":["2025-12-05","2025-12-12","2025-12-19","2025-12-26","2026-01-02","2026-01-09","2026-01-16","2026-01-23","2026-01-30","2026-02-06","2026-02-13","2026-02-20","2026-02-27","2026-03-06","2026-03-13","2026-03-20","2026-03-27","2026-04-03","2026-04-10","2026-04-17","2026-04-24","2026-05-01","2026-05-08","2026-05-15","2026-05-22","2026-05-29","2026-06-05","2026-06-12","2026-06-19","2026-06-26","2026-07-03","2026-07-10","2026-07-17","2026-07-24","2026-07-31","2026-08-07","2026-08-14","2026-08-21"],"control":[null,null,null,null,null,0.0,32.9295,-46.3298,-62.076,-78.3055,-60.55,-40.3399,-27.5744,0.0,0.0,-40.741,-24.5925,-47.71,16.1639,12.3091,36.2658,0.0,15.2705,23.9453,0.0,-44.7371,-64.9927,-48.8775,-46.4103,-28.3465,-9.7289,0.0,-52.8369,9.0979,-35.8522,-8.8521,-47.3737,-59.8929],"force":[44.8598,37.9314,0.0,-53.0848,-1.0925,0.0,30.2197,-67.5635,-88.0847,-93.211,-27.8824,-6.4963,-14.9913,0.0,0.0,-20.177,-1.8214,-26.9825,34.2222,28.7177,58.8088,0.0,22.9748,27.2493,0.0,-49.8129,-46.0023,-16.2754,-20.4982,-22.2348,-15.8799,0.0,-23.5094,53.6022,-26.8727,-4.1236,-50.1951,-98.2264],"direction":[null,null,null,null,-46.6741,0.0,41.4519,-18.0314,-66.6794,-81.136,-79.0224,-76.1934,-73.9669,0.0,0.0,-24.6984,-17.011,-35.3954,11.3566,4.8733,30.6222,0.0,33.5046,38.5331,0.0,-20.8833,-53.972,-53.3395,-53.8231,-56.2333,-31.2332,0.0,-23.6634,9.1259,-8.5305,-15.9868,-20.1541,-58.99],"intensity":[null,null,null,null,50.0,100.0,66.6667,100.0,100.0,100.0,70.0,27.2727,41.6667,53.8462,14.2857,46.6667,37.5,23.5294,50.0,21.0526,50.0,14.2857,27.2727,8.6957,41.6667,64.0,96.1538,18.5185,3.5714,51.7241,36.6667,35.4839,15.625,48.4848,26.4706,5.7143,13.8889,94.5946],"confirmation":[37.0218,34.8047,0.8348,39.6538,30.3093,24.4338,79.1574,82.072,91.1296,94.9496,85.8619,58.4565,80.4301,7.512,4.9347,77.1324,49.9653,79.7427,29.2526,50.2293,81.4077,28.408,75.6533,77.571,4.4119,80.3129,85.5965,80.6392,80.878,79.3936,28.7298,28.8523,78.6677,75.6614,75.6006,48.4227,80.5571,91.1583],"persistence":[null,null,66.6667,25.0,0.0,0.0,14.2857,0.0,25.0,50.0,62.5,62.5,62.5,62.5,75.0,75.0,75.0,75.0,50.0,25.0,0.0,0.0,12.5,37.5,50.0,50.0,25.0,0.0,25.0,37.5,62.5,75.0,87.5,62.5,62.5,62.5,62.5,37.5],"assessmentRisk":[null,null,null,null,35.0965,27.5206,31.65,31.6941,13.6421,8.4785,20.5738,27.7587,29.3237,32.8037,37.039,38.3738,32.4548,2.7512,0.0741,17.487,22.1188,44.9103,37.9749,34.7405,9.4064,23.6123,21.7894,28.8395,28.6816,31.5424,9.0126,16.6372,22.4637,34.9989,35.3237,4.8973,14.0988,12.782],"volumeParticipation":true,"latest":{"consensus":-69.2,"control":-59.9,"force":-98.2,"direction":-59.0,"confirmation":91.2,"persistence":37.5,"assessmentRisk":12.8,"intensity":94.6,"evidenceDepth":100},"analysis":{"status":"Market Dynamics has stronger support","headline":"The gauges support the downward view","summary":"The completed evidence gives the downward view the clearer support.","take":"Current assessment: downward pressure has the stronger support.","tone":"negative","supportedView":"Market Dynamics","direction":"downward","disagreement":false},"support":{"window":"Latest 12 months","controlState":"Seller control supports the view","controlPath":"Control support is strengthening","forceState":"Downward commitment","forcePath":"Commitment is strengthening","directionState":"Downward follow-through","persistenceState":"Unsettled","confirmationState":"Strong support","riskState":"Contained","intensityState":"Elevated"},"cards":[{"label":"SM Consensus Gauge","value":"-69.2","detail":"Market Dynamics has stronger support","tone":"negative"},{"label":"SM Control Gauge","value":"-59.9","detail":"Seller control supports the view","tone":"negative"},{"label":"SM Force Gauge","value":"-98.2","detail":"Downward commitment","tone":"negative"},{"label":"SM Direction Gauge","value":"-59.0","detail":"Downward follow-through","tone":"negative"},{"label":"SM Confirmation Gauge","value":"91/100","detail":"Strong support","tone":"positive"}]},"kpis":[{"label":"Price structure","value":"Rotational","detail":"completed-week alignment","tone":"caution"},{"label":"Momentum","value":"54.0","detail":"Positive","tone":"positive"},{"label":"Risk pressure","value":"6.2%","detail":"Contained","tone":"neutral"},{"label":"Trend quality","value":"29.3","detail":"Directional","tone":"positive"},{"label":"Range position","value":"72%","detail":"location inside observed range","tone":"neutral"},{"label":"Adaptive set","value":"6 views","detail":"selected for the current tape","tone":"neutral"}],"charts":[{"key":"price","eyebrow":"Price architecture","title":"Trend, acceptance and volatility envelope","description":"Price is shown against fast and slow trend references with its current volatility envelope.","reason":"Selected as the anchor because price is rotating through its trend references.","series":[{"label":"Close","values":[26.5,26.36,25.06,24.72,25.18,25.87,27.0,24.95,22.52,17.78,17.81,18.16,18.0,19.08,19.19,18.97,18.87,18.34,19.37,19.8,20.76,20.37,20.95,21.29,20.61,19.54,16.79,17.09,17.0,16.45,16.86,17.5,17.09,17.8,17.32,17.34,17.0,20.03],"stroke":"#10243b","width":2.1},{"label":"Fast trend","values":[null,null,null,null,25.806,25.8176,26.0326,25.8358,25.2329,23.8778,22.7746,21.9356,21.22,20.8309,20.5326,20.2485,19.9978,19.6964,19.6371,19.6667,19.8655,19.9572,20.1377,20.3472,20.395,20.2395,19.6124,19.1537,18.7622,18.3418,18.0724,17.9683,17.8086,17.807,17.7185,17.6497,17.5315,17.9858],"stroke":"#176fa3","width":1.7},{"label":"Slow 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compared with its normal backdrop while cumulative balance tracks directional participation.","reason":"Selected because participation is confirming or diverging from the latest price path.","series":[{"label":"Activity versus norm","values":[null,null,null,null,null,null,null,97.0897,148.7689,374.5545,207.9781,70.7145,209.5142,64.4268,60.2339,136.6982,52.1424,54.7348,36.8852,67.7683,92.9675,88.0129,55.3997,115.4236,70.0808,47.5666,16.0386,20.2313,9.4395,61.7231,17.8601,26.2802,10.8553,156.7332,84.2576,157.4123,250.1739,356.082],"stroke":"#1678a7","width":1.8},{"label":"Cumulative balance","values":[null,null,null,null,null,null,null,117.5916,91.9762,65.0,85.0531,91.6945,70.041,76.5222,82.4143,68.7072,65.0,65.0,67.8461,72.9879,80.2378,73.2243,77.6146,87.2388,81.5878,77.7444,76.4809,78.0441,77.3468,73.506,74.4752,75.8458,75.3761,82.2709,78.6196,85.0377,73.9903,92.1736],"stroke":"#07865c","width":1.7}],"guides":[{"label":"Typical 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