{"schema_version":"1.0","name":"FBTC Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-21","ticker":{"uuid":"1f792cd6-3147-43c1-95b0-4bb751fbebfc","symbol":"FBTC","name":"Fidelity Physical Bitcoin ETP","exchange":"MIL","country":"IT","asset_type":"etf","currency":"EUR","sector":null,"industry":null},"summary":"The completed price path and its progression through the positioning zones can be described, but there is not enough usable Market Dynamics history to confirm or challenge the technical state.","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, Completed returns and cumulative progression, Range expansion and closing direction, Activity pressure and cumulative balance, Range position and boundary pressure, Acceleration, deceleration and rollover."},{"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":23,"displayedObservations":23,"assetType":"ETF","state":"Rotational","stateTone":"caution","summary":"The completed price path and its progression through the positioning zones can be described, but there is not enough usable Market Dynamics history to confirm or challenge the technical state.","evidenceAlignment":{"status":"Evidence developing","headline":"Price structure is visible; Market Dynamics is not yet established","summary":"The completed price path and its progression through the positioning zones can be described, but there is not enough usable Market Dynamics history to confirm or challenge the technical state.","take":"Treat movement through the zones as price-location context only. Reaching the upper zone shows extension, but without an established Market Dynamics read it does not by itself establish active distribution, divergence or reversal risk.","tone":"neutral","conflict":false},"marketDynamics":{"available":true,"readAvailable":false,"dates":["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"],"values":[0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0],"opens":[6.308,6.304,5.594,5.594,6.076,6.259,6.5,6.374,6.8,6.615,6.5,5.3,5.317,5.538,5.15,5.3,5.509,5.583,5.47,5.58,5.261,5.52,5.369],"highs":[6.308,6.304,5.594,6.0,6.261,6.5,6.5,6.851,6.8,6.615,6.5,5.3,5.317,5.538,5.151,5.3,5.509,5.583,5.707,5.6,5.41,5.52,6.5],"lows":[6.258,5.619,5.594,5.594,6.076,6.251,6.38,6.374,6.615,6.441,6.2,5.129,5.317,5.538,5.15,5.3,5.483,5.583,5.47,5.308,5.261,5.371,5.369],"closes":[6.304,5.594,5.594,6.076,6.444,6.5,6.374,6.8,6.615,6.441,6.159,5.141,5.317,5.538,5.151,5.3,5.483,5.583,5.5,5.308,5.41,5.388,6.497],"hoverRows":[[{"label":"Open","value":"6.31","className":"is-ohlc","compact":true},{"label":"High","value":"6.31","className":"is-ohlc","compact":true},{"label":"Low","value":"6.26","className":"is-ohlc","compact":true},{"label":"Close","value":"6.30","className":"is-ohlc","compact":true},{"label":"Market 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travelling between the lower accumulation area and the upper positioning zone. Market Dynamics history is not yet sufficient to confirm or challenge that progression.","tone":"neutral"},"chartSummary":"Price is between the outer positioning zones. The Market Dynamics bars show whether underlying support is strengthening or weakening.","summary":"Price is travelling between the lower accumulation area and the upper positioning zone. Market Dynamics history is not yet sufficient to confirm or challenge that progression.","annotations":[{"label":"Current tape relationship","value":"Zone progression","detail":"Market Dynamics remains positive and was little changed this week.","tone":"neutral"},{"label":"Price location","value":"Between zones","detail":"Price is progressing between the lower and upper positioning zones while the Market Dynamics read develops.","tone":"neutral"},{"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":"Unavailable","detail":"Too little usable Market Dynamics history is available for a directional confirmation read.","tone":"neutral"}],"relationshipEvidence":{"available":false,"observations":23,"summary":"More completed weekly history is needed for a dependable ticker-level record."},"events":{"positioning_recoveries":[],"reversal_warnings":[{"date":"2026-04-17","price":6.444},{"date":"2026-08-21","price":6.497}],"reversal_dangers":[{"date":"2026-04-24","price":6.5}]}},"smTape":{"available":true,"dates":["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":[6.304,5.594,5.594,6.076,6.444,6.5,6.374,6.8,6.615,6.441,6.159,5.141,5.317,5.538,5.151,5.3,5.483,5.583,5.5,5.308,5.41,5.388,6.497],"consensus":[84.0,-100.0,0.0,100.0,77.3468,65.5864,8.4936,84.8772,0.0,-24.5744,-67.6943,-88.8146,-35.6387,-29.891,-55.1454,-10.7757,-18.342,0.0,-25.6913,-58.8431,0.0,-39.699,73.9152],"supportDates":["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,67.6484,18.2533,78.797,0.0,-27.9421,-55.6462,-87.0751,-22.387,-16.534,-34.7022,-21.153,-34.6485,0.0,-34.1951,-65.8472,0.0,-41.9048,64.5154],"force":[84.0,-100.0,0.0,100.0,56.1396,44.5671,28.6033,97.2675,0.0,-68.4957,-96.7283,-92.8696,-9.5809,-12.635,-50.4465,-38.1495,-13.6258,0.0,-35.4561,-80.1612,0.0,-34.9667,99.8971],"direction":[null,null,null,null,92.4948,78.2438,65.5594,82.9758,0.0,-10.6466,-60.725,-87.906,-83.0833,-75.5318,-81.8655,-33.8624,-22.5401,0.0,-8.9978,-35.611,0.0,-40.5584,66.0993],"intensity":[null,null,null,null,50.0,20.0,16.6667,42.8571,37.5,22.2222,50.0,100.0,25.0,30.7692,57.1429,13.3333,31.25,5.8824,11.1111,36.8421,35.0,9.5238,95.4545],"confirmation":[49.5467,54.6667,0.0,54.6667,69.1148,88.3157,34.6577,95.631,36.1073,34.089,90.7306,96.5707,34.9388,33.8347,85.8149,32.6043,30.2202,4.4978,76.3892,87.3727,32.2465,80.5259,55.0],"persistence":[null,null,0.0,25.0,40.0,50.0,57.1429,62.5,50.0,50.0,37.5,12.5,12.5,37.5,62.5,87.5,100.0,87.5,87.5,87.5,75.0,75.0,50.0],"assessmentRisk":[null,null,null,null,24.0749,15.9334,44.0414,5.2899,18.2435,4.0549,6.3955,5.5396,31.9476,33.723,21.872,24.6418,30.2375,9.3662,50.7964,30.5568,13.0874,6.9479,11.8043],"volumeParticipation":true,"latest":{"consensus":73.9,"control":64.5,"force":99.9,"direction":66.1,"confirmation":55.0,"persistence":50.0,"assessmentRisk":11.8,"intensity":95.5,"evidenceDepth":88},"analysis":{"status":"Completed 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FBTC Technical Research Pack, completed week 2026-08-21, https://sharemaestro.com/terminal/1f792cd6-3147-43c1-95b0-4bb751fbebfc/technical-pack/","data_notes":{"time_series":"Parallel time-series arrays align by index with their dates array.","events":"Sparse chart markers are published as compact dated event records rather than null-filled arrays.","missing_values":"A remaining null in an aligned series means that observation is genuinely unavailable; zero remains a valid value."},"boundary":"Completed market observations and published proprietary outputs only. Market Dynamics construction and private inputs are not disclosed. Historical research is not a forecast or instruction to trade."}