Yesterday’s headlines briefly took bitcoin (BTC/USD) under the $94,000 mark, but the OG crypto has since recovered and remains supported inside a potential continuation chart pattern.

Let’s take a closer look at the 4-hour time frame:

Bitcoin (BTC/USD) 4-hour Chart by TradingView

In case you missed it, South Korea was briefly placed under Martial Law, which rattled “risk” assets including the crypto markets.

It also didn’t help BTC/USD that a positive U.S. JOLTS jobs report lifted the U.S. dollar during the U.S. session.

Remember that directional biases and volatility conditions in market price are typically driven by fundamentals. If you haven’t yet done your homework on bitcoin and the U.S. dollar, then it’s time to check out the economic calendar and stay updated on daily fundamental news!

BTC/USD fell under $94,000 but managed to recover quickly and end the day just under $96,000.

As you can see, bitcoin’s current levels remain near the Pivot Point line and above the 4-hour chart’s 100 SMA.

Will this lead to further gains for BTC/USD?

The pair remains inside what looks like a bullish pennant pattern in the 4-hour time frame, which points to a possible trend continuation for the crypto pair.

We’re looking out for a retest of the trend line resistance, which could draw in enough buyers to force an upside breakout. In this case, BTC/USD may revisit its previous highs near $98,000 and make another play for the big $100,000 target.

But if BTC/USD sees bearish candlesticks in the next trading sessions, and if the pair consistently trades below the 100 SMA and Pivot Point support zones, then we can anticipate a possible return to the $92,000 inflection points near the S1 ($92,367) Pivot Point zone.

What do you think? Which way will BTC/USD go in the next few days?

As always, watch out for other top-tier catalysts that could impact overall market sentiment, and make sure you practice proper position sizing when taking any trades!