{"schema_version":"1.0","name":"IB1T Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-21","ticker":{"uuid":"4eca0c8a-aa7e-492a-84ad-0719427b201d","symbol":"IB1T","name":"iShares Bitcoin ETP","exchange":"LSE","country":"GB","asset_type":"etf","currency":"GBP","sector":null,"industry":null},"summary":"Market Dynamics strengthened this week and remains positive. Underlying support has strengthened across the recent completed path. Price structure remains rotational.","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, Range pressure and compression, 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":44,"displayedObservations":44,"assetType":"ETF","state":"Rotational","stateTone":"caution","summary":"Market Dynamics strengthened this week and remains positive. Underlying support has strengthened across the recent completed path. Price structure remains rotational.","evidenceAlignment":{"status":"Positive support; price rotational","headline":"Market Dynamics is positive while price has no clear direction","summary":"Market Dynamics strengthened this week and remains positive. Underlying support has strengthened across the recent completed path. Price structure remains rotational.","take":"The underlying condition is constructive, but a positive price response is still required.","tone":"caution","conflict":true},"marketDynamics":{"available":true,"readAvailable":true,"dates":["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":[0.329453,0.448919,0.453049,0.476036,0.256217,0.035181,-0.189662,-0.440421,-0.504596,-0.554218,-0.619157,-0.530479,-0.444801,-0.323159,-0.188731,0.023174],"opens":[5.976,5.925,5.752,5.689,4.604,4.6905,4.755,4.56,4.6105,4.7465,4.659,4.736,4.8845,4.6355,4.828,4.6795],"highs":[6.067,6.0422,5.795,5.787,4.686,4.7827,4.7785,4.587,4.65728,4.8085,4.711,4.9896,4.907,4.8381,4.832,5.793],"lows":[5.827,5.856,5.6747,5.38865,4.5,4.6905,4.7,4.424,4.6,4.74123,4.642,4.7285,4.629,4.619,4.604,4.652],"closes":[5.8435,5.93,5.71,5.476,4.537,4.76775,4.756,4.5425,4.63275,4.76925,4.6925,4.7945,4.642,4.8075,4.626,5.6855],"hoverRows":[[{"label":"Open","value":"5.98","className":"is-ohlc","compact":true},{"label":"High","value":"6.07","className":"is-ohlc","compact":true},{"label":"Low","value":"5.83","className":"is-ohlc","compact":true},{"label":"Close","value":"5.84","className":"is-ohlc","compact":true},{"label":"Market 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repairing","className":"is-negative","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}],[{"label":"Open","value":"4.68","className":"is-ohlc","compact":true},{"label":"High","value":"5.79","className":"is-ohlc","compact":true},{"label":"Low","value":"4.65","className":"is-ohlc","compact":true},{"label":"Close","value":"5.69","className":"is-ohlc","compact":true},{"label":"Market Dynamics","value":"0.02","note":"Supportive and strengthening","className":"is-positive","wide":true},{"label":"Signal / event","value":"No event marker","className":"is-muted","wide":true}]],"pressureRange":[-2.3,2.3],"priceRange":[4.45342,6.01358],"zones":{"accumulationBoundary":-1.5,"accumulationDarkBoundary":-2.0,"distributionBoundary":1.5,"distributionDarkBoundary":2.0},"latest":0.023174,"state":"Positive and strengthening","context":{"scenario":"positiveSustained","latestDirection":"strengthening","fourWeekDirection":"strengthening","now":{"label":"Stronger this week","detail":"Market Dynamics strengthened this week and remains positive."},"fourWeek":{"label":"Strengthened over four weeks","detail":"Underlying support has strengthened across the recent completed path."},"price":{"label":"Price and Market Dynamics are broadly aligned","detail":"The current price response is broadly consistent with the underlying Market Dynamics path."}},"diagnosis":{"label":"Sustained positive support","detail":"Market Dynamics remains positive and has strengthened across the recent completed path. A slight weekly pause does not yet change the broader constructive reading.","tone":"positive"},"chartSummary":"Price is between the outer positioning zones. The Market Dynamics bars show whether underlying support is strengthening or weakening.","summary":"Market Dynamics remains positive and has strengthened across the recent completed path. A slight weekly pause does not yet change the broader constructive reading.","annotations":[{"label":"Current tape relationship","value":"Sustained positive support","detail":"Market Dynamics strengthened this week and remains positive.","tone":"positive"},{"label":"Price location","value":"Between zones","detail":"Price is travelling between the two major positioning zones.","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":"Supported","detail":"Underlying support has strengthened across the recent completed path.","tone":"positive"}],"relationshipEvidence":{"available":false,"observations":16,"summary":"More completed weekly history is needed for a dependable ticker-level record."},"events":{"positioning_recoveries":[],"reversal_warnings":[],"reversal_dangers":[]}},"smTape":{"available":true,"dates":["2025-10-24","2025-10-31","2025-11-07","2025-11-14","2025-11-21","2025-11-28","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":[8.234,8.3755,7.7,7.361,6.3515,6.8855,6.6835,6.766,6.6015,6.444,6.6665,6.8045,7.078,6.5835,6.0465,5.105,5.061,4.9837,4.8987,5.333,5.3885,5.2475,4.954,5.04,5.3975,5.73,5.759,5.7575,5.8435,5.93,5.71,5.476,4.537,4.7678,4.756,4.5425,4.6327,4.7693,4.6925,4.7945,4.642,4.8075,4.626,5.6855],"consensus":[-86.5405,-26.1824,-61.0577,-33.6186,-44.5907,0.0,-16.069,-16.1831,-8.9189,-22.2266,0.0,0.0,12.07,-22.5256,-36.4299,-55.3979,-27.4768,-22.6113,-24.3065,0.0,0.0,-19.7892,-31.7739,-16.2199,14.8268,29.8516,19.2072,20.8077,0.0,11.7839,-8.4189,-22.3335,-54.3095,-13.0646,-21.3227,-29.4455,-11.3219,-9.7845,-11.2195,0.0,-30.5573,13.1055,-31.992,66.9558],"supportDates":["2025-10-24","2025-10-31","2025-11-07","2025-11-14","2025-11-21","2025-11-28","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,-12.671,-17.8042,-10.3742,-26.9591,0.0,0.0,12.3253,-30.6753,-39.3616,-41.9318,-21.8763,-14.0639,-18.7971,0.0,0.0,-28.3309,-40.6598,-20.8369,21.2757,31.7063,16.6441,21.5022,0.0,8.3178,-14.1704,-26.0042,-61.2144,-0.8446,-13.6738,-23.5124,-15.0413,-13.2752,-10.1212,0.0,-41.9819,16.1713,-41.263,58.8922],"force":[-86.5405,-26.1824,-61.0577,-33.6186,-27.545,0.0,-5.469,-7.0281,-2.0648,-13.3735,0.0,0.0,17.4472,-27.5399,-35.5286,-74.7193,-10.8326,-6.4053,-9.4492,0.0,0.0,-18.4774,-35.0899,-0.8657,31.1465,45.2788,18.0463,17.0127,0.0,5.4086,-17.4162,-31.4792,-51.5231,-9.2947,-4.9153,-15.4385,-8.3906,-5.8185,-0.6973,0.0,-31.4027,32.5244,-36.7967,95.9292],"direction":[null,null,null,null,-56.7663,0.0,-27.5237,-20.8697,-12.1514,-23.1415,0.0,0.0,7.9373,-9.6299,-33.7231,-56.9866,-45.7661,-43.9555,-41.2153,0.0,0.0,-10.9644,-19.2499,-21.9106,4.2003,16.7123,22.9659,22.7247,0.0,20.2989,-4.581,-11.6059,-48.4083,-43.0013,-41.7839,-46.2311,-21.1515,-16.9401,-20.9869,0.0,-16.8967,4.2688,-17.9645,55.4762],"intensity":[null,null,null,null,75.0,40.0,16.6667,28.5714,25.0,11.1111,20.0,36.3636,41.6667,69.2308,85.7143,93.3333,93.75,41.1765,5.5556,57.8947,15.0,9.5238,45.4545,17.3913,58.3333,56.0,34.6154,3.7037,50.0,6.8966,30.0,45.1613,90.625,27.2727,2.9412,45.7143,25.0,16.2162,10.5263,51.2821,20.0,29.2683,33.3333,90.6977],"confirmation":[50.3596,31.045,42.2051,33.4246,58.8231,27.2492,50.2041,50.2082,47.9563,74.7706,3.286,1.4469,49.3557,75.2368,79.5854,86.5214,76.3707,52.2053,75.4092,5.4533,2.5442,74.1624,78.1333,49.9854,51.3731,77.9944,74.15,74.5322,26.0335,48.9627,49.1912,75.3695,85.1889,5.6683,51.7731,77.0861,27.4222,49.1769,48.7259,2.7855,77.63,50.9829,78.2426,90.4317],"persistence":[null,null,100.0,100.0,100.0,83.3333,85.7143,87.5,87.5,87.5,75.0,62.5,37.5,50.0,50.0,50.0,50.0,50.0,62.5,62.5,75.0,75.0,75.0,75.0,50.0,25.0,0.0,12.5,12.5,37.5,37.5,37.5,12.5,12.5,37.5,62.5,75.0,100.0,100.0,87.5,87.5,62.5,62.5,37.5],"assessmentRisk":[null,null,null,null,27.6903,46.5962,40.1994,34.0526,29.5849,27.6739,2.9752,6.3103,35.0071,27.6894,27.0029,22.2537,36.2503,38.6754,37.7611,25.342,36.1479,41.2062,23.457,25.8464,6.2009,27.9406,39.2714,38.2739,46.7272,32.3041,7.2413,31.5503,22.8189,43.3889,39.0609,34.9849,20.18,5.1384,5.3826,36.7745,16.8907,0.023,4.659,15.1169],"volumeParticipation":true,"latest":{"consensus":67.0,"control":58.9,"force":95.9,"direction":55.5,"confirmation":90.4,"persistence":37.5,"assessmentRisk":15.1,"intensity":90.7,"evidenceDepth":100},"analysis":{"status":"Market Dynamics has stronger support","headline":"The gauges support the upward view","summary":"The completed evidence gives the upward view the clearer support.","take":"Current assessment: upward pressure has the stronger support.","tone":"positive","supportedView":"Market Dynamics","direction":"upward","disagreement":false},"support":{"window":"Latest 12 months","controlState":"Buyer control supports the view","controlPath":"Control support is strengthening","forceState":"Upward commitment","forcePath":"Commitment is strengthening","directionState":"Upward follow-through","persistenceState":"Unsettled","confirmationState":"Strong support","riskState":"Contained","intensityState":"Elevated"},"cards":[{"label":"SM Consensus Gauge","value":"+67.0","detail":"Market Dynamics has stronger support","tone":"positive"},{"label":"SM Control Gauge","value":"+58.9","detail":"Buyer control supports the view","tone":"positive"},{"label":"SM Force Gauge","value":"+95.9","detail":"Upward commitment","tone":"positive"},{"label":"SM Direction Gauge","value":"+55.5","detail":"Upward follow-through","tone":"positive"},{"label":"SM Confirmation Gauge","value":"90/100","detail":"Strong support","tone":"positive"}]},"kpis":[{"label":"Price structure","value":"Rotational","detail":"completed-week alignment","tone":"caution"},{"label":"Momentum","value":"56.9","detail":"Positive","tone":"positive"},{"label":"Risk pressure","value":"9.0%","detail":"Contained","tone":"neutral"},{"label":"Trend quality","value":"32.8","detail":"Directional","tone":"positive"},{"label":"Range position","value":"77%","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 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Market Dynamics construction and private inputs are not disclosed. Historical research is not a forecast or instruction to trade."}