One needs to pay attention to whether the red range will form a resistance level, and also whether the support line will work to stop the price from moving further down.
Tips 1) Whether the key level turns into a resistance level 2) Whether or not the support line comes into play
Note
XAUUSD and BTCUSD prices are moving in opposite directions, with XAU ready to make new highs and BTC pulling back to correct after new highs.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.