VRAUSDT Looking Severely Overbought Short

Verasity / TetherKuCoin

Description

⋅ Sep 30, 2023 10:28 AM

A potential Reversal on VRAUSDT is imminent as things are looking incredibly overbought at the moment.

To further back the point of a potential reversal, Bitcoin, which leads the crypto market, is also looking oversold.

On higher timeframes, a reversal has not been signaled yet, but things are also looking oversold.

There can be a potential short squeeze before making it's way down.

This is not financial advice, all ideas are for educational purposes only.

Comment

⋅ Sep 30, 2023 3:38 PM

Correction, it is mentioned that Bitcoin as well as VRAUSDT on higher timeframes are oversold, this is a typo and should be overbought instead.

Comments

SwallowPremium

⋅ Oct 1, 2023 6:56 AM

It's a good idea, but we still have to wait for confirmation, so we shouldn't go in now.

Golden-X

⋅ Sep 30, 2023 2:29 PM

100% agree. It’s been over bought for while. It can’t stay that way for long. A dump is imminent

AutomatedTradingAlgorithms

⋅ Oct 1, 2023 7:40 AM

@Golden-X, Yes, this idea wasn't meant to call an entry, it was just to signal for potential short opportunities

BitcoinAnnihilator

⋅ Oct 1, 2023 10:36 AM

What overbought we didn't even move kek

AutomatedTradingAlgorithms

⋅ Oct 1, 2023 10:36 AM

@BitcoinAnnihilator, overbought on the shorter-term