Fractal similarity: 3rd time is a charm?

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Bitcoin / Dollar (BITFINEX:BTCUSD)

BITFINEX:BTCUSD Bitcoin / Dollar

In technical analysis , what were once support levels - should the price fall below that zone - are then turned into a resistance level . If the price range can ascend ~320 and hold, the lower 300's could become the new support zone , for a larger bounce.

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