State, regime and phase

Every engine describes a market with the same three ideas. Once you understand them, the labels on any page become easier to read.

State: the read right now

State is the engine's core read for one asset on one timeframe. Each engine has its own list. MPI reads the crowd from Euphoric to Fearful, while LBI reads the order book from Absorption to Liquidity Trap.

Regime: the kind of market

Regime is the broader condition: it describes the kind of market you are reading. Healthy Trend is a trend with controlled risk, while Fragile Trend is prone to failure. Chaotic Market means the market is not fit for analysis.

Phase: where it sits in the cycle

MSI moves through Building, Holding, Stretching, Unwinding, Breaking and Resetting. A Healthy Trend that is still Building is a very different situation from a Healthy Trend that is already Stretching.

Bias and confidence

Next to regime and phase, every read carries a bias (up, down or balanced) and a confidence. The Core State card shows them all in one row.

When there is no clear regime

When the conditions for a regime are not met, the engine does not force a label. MSI shows Awaiting Confirmation, MPI shows Mixed Signal, and LBI shows Unclassified Book. Treat these as an open read, not as a conclusion.

Case study: BTC changes in one candle

The MSI read for BTC on 1H changed between two consecutive candles on October 30, 2026.

The bias stayed UP, but the regime, phase and confidence all changed. A reader who looks only at the bias would miss this. That is why you should read all three together with confidence before drawing a conclusion.

Related guides: State, regime and phase: the three words behind every read