The Witching Hour: Cryptos in a Tizzy Ahead of Triple Witching

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🤑📉 The Witching Hour: Cryptos in a Tizzy Ahead of Triple Witching 📉🤑

The Witching Hour: Cryptos in a Tizzy Ahead of Triple Witching

As the clock ticks closer to the triple-witching event, the cryptocurrency world is abuzz with anticipation – and a dash of panic. The air is thick with the scent of volatility, and the usual suspects are getting restless.

Bitcoin, that stalwart of the crypto world, has taken a tumble, slipping from its weekly high of $87,158 to a mere $83,580. Ethereum, that erstwhile darling, has fallen below the $2,000 mark, while Ripple has seen its price drop from $2.59 to a mere $2.35. The question on everyone’s mind: what’s behind this price action?

Some say it’s the quarterly triple-witching event on Wall Street, that most closely-watched of events. Others claim it’s the lingering concerns about Donald Trump’s tariffs, or the Federal Reserve’s muted interest rate decision. But we all know the truth: it’s the witching hour, and the market is aflutter with anticipation.

Bitcoin: A Rising Wedge of Doom

Bitcoin’s price has formed a rising wedge pattern, that most ominous of formations. It’s a double-top, a death cross, and a rising wedge all rolled into one. The immediate target, dear reader, is $76,890, the March low. Will the BTC price drop before or after the triple-witching event? Only time will tell.

Ethereum: A Triple-Top of Despair

Ethereum, that proud and stalwart token, has formed a triple-top pattern at $4,005. The neckline, dear reader, is at $2,140, and the 50-week and 200-week moving averages have been breached. The psychological point of $1,500 beckons, like a siren’s song to the unwary. Will Eth’s price drop to that fateful point? Only the winds of fate will tell.

XRP: A Head and Shoulders of Despair

XRP, that enigmatic token, has formed a head and shoulders pattern, whose neckline is at $1.93. The shoulders, dear reader, are at $3, and the coin has failed to invalidate this pattern this week. The risk, therefore, is that XRP will drop to $1, a fate worse than death for this poor, beleaguered coin.

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2025-03-21 17:20