$IBIT Bitcoin Spot ETF has currently formed two gaps—one above and one below—presenting the market with an interesting question: which gap will be filled first, the upper one or the lower one?

From a technical perspective, these two gaps represent a market tug-of-war. If the upper gap fills first, it indicates that bulls continue to control the pace, and prices are likely to break higher; conversely, if the lower gap is quickly filled, it may signal an incoming correction.

The key is volume confirmation. Gap theory suggests that markets tend to fill these price voids, but the sequence of filling determines the subsequent direction. The question now isn't whether the gaps will be filled, but rather when and in what order—this directly impacts short-term trading opportunities. It's worth monitoring the volume and price action of $IBIT closely.