Market Outlook

Bitcoin pulls back over the weekend, with expectations to fill the CME gap next week
Currently, Bitcoin $BTC touched 78 on Friday night, followed by a pullback of about 2,000 points down to the 76,000 range. Many are worried whether the top has already appeared.
At present, I believe the top has not yet appeared. My expectation is a weekend pullback followed by filling the CME gap next week.
Although it touched 78, the CME gap above is between 79,600 and 81,100. I think that being so close makes it a low-probability scenario not to fill; filling it is the high-probability scenario. The CB premium still exists as well. Therefore, I believe there is a very good chance that prices will continue to rise next week to fill the CME gap.
After filling the gap, the upper level doesn’t look too high for now; once it reaches a maximum that doesn’t exceed 84, a larger pullback will begin.
And in the current pullback (78-76), there is still room below. Support is in the 75-73 range. If this holds, the probability of continued gains next week is higher.
If the weekend fills the gap to the 75-73 range, and CME closes around 77,600 on Saturday morning, then two gaps will form above (75-77,600; 79,600-81,100). Therefore, there is momentum to fill both gaps upward.
To sum up, my view is: the weekend pullback might not be over (possibly moving to the 75-73 range), but after the pullback, the bullish probability for next week is higher (around 81).
After filling the upper gap, being overly bullish requires extra caution, as a larger pullback may follow.
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