Pure bet on NFP numbers

Greetings everybody,

Market reasonably stands flat in recent few sessions as everybody waits for NFP numbers that should have decisive meaning, because of lack of any other information. Indeed, positive NFP supports USD and should trigger downside action on BTC. Because they mean that no new liquidity will be provided until elections. The opposite is also true and poor NFP should trigger upside action.

Thus, despite what we see here - any trade now is just a bet on NFP numbers. Still technical picture keeps our bearish patterns and until price stands below 11.2K area - bearish context holds. Besides, on daily chart we see signs of bearish dynamic pressure as trend has turned bullish but price action is stagnating.

Thus, bears could consider short entry (if you feel comfortable to trade on NFP report release) with stops above 11.2K, while bulls could either use Stop "Buy" order above the same 11.2K. Alternatively, if still our patterns will work - wait for 9K target.

On 1H chart we see only minor "222" Sell. Use this chart together with previous idea - the butterfly there is still valid.