Crypto market today: Bitcoin (BTC), Ethereum (ETH), Revain (REV), Avalanche (AVAX) – 4th September 2021

Sat 04 Sep 2021 ▪ 11h48 ▪ 11 min read — by Rudy Bauer

It’s Saturday, 4th September, bringing you another edition of Cointribune’s crypto analysis! Find out everything that has already happened in the market and what to expect next in our new article! If you want to read the previous issue of the column, please follow the link. Here we go!


The fierce battle continues. The day before, the bulls once again took the $50,000 boundary, and at one point even tried to consolidate in the $51,200 zone, but persistent resistance from the bears again caused the buyers to retreat to $49,000. At the time of writing, Bitcoin is once again trying to recapture losses and is trading at around $49,900.

Storming castles is much harder than defending them. Likewise, the first cryptocurrency, lacking reinforcements, is now and again falling back to square one just to regroup its available forces and rush into the battle again.

However, progress is evident, and there’s no point in denying it. It’s clear that the bulls are aiming to break through the key support, and they don’t want BTC to undergo a global correction. In that case, no matter how long the confrontation near $50,000 will last, eventually it will break the resistance and start a new round of bull market. So if you were contemplating adding Bitcoin to your portfolio as soon as it drops slightly, you should seriously consider the fact that there’s a good chance you simply won’t get that opportunity.

Technically, even though, according to the chart BTC is already out of the triangle, the first cryptocurrency is still under its influence. Complicating matters is that the boundary of this triangle is a dynamic resistance that keeps the first cryptocurrency in a downtrend. It originates from the all-time high near $65,000.

You may recall that earlier, within the BTC weekly chart (one candle – one week), we noted the formed triangle, confirmed by the descending highs and steady lows at the same level.  Within this triangle, we noted a bullish pennant formation, which is one of the patterns indicating a subsequent continuation of price growth.

In case of a breakout, a new round of explosive growth awaits BTC, during which the first cryptocurrency will update its all-time high.  Currently, the movement potential suggests reaching such price levels as $90,000 and $100,000.

$50,000 is not only technical, but also an important psychological level. Actually, this factor explains the persistence with which the bears are holding on to this price range. Meanwhile, the buyers have also collected their wits and increased the intensity and frequency of their attacks on the adversary. If earlier the breakout of the $50,000 zone happened at best once or twice a week, now it seems that the attack doesn’t stop for a minute. In this context, the rest of the market also looks active, which allows players to profit from deals in a large number of different assets.

Saturday and Sunday are always the days of heightened uncertainty for the cryptocurrency market. Clearly, right now the situation indicates a growing bullish advantage. It’s likely that soon, due to some of the bears moving to the buyers’ side, the power gap will widen even more. In addition, we should not forget about the leveraged positions of the sellers, which the bulls can use as a fuel for an even more aggressive breakout. With all that said, you should always be prepared for a drastic change in the situation. The bulls at any moment can exhaust their strength and start booking their profits, thus, replenishing the bears’ camp.

The Vortex Indicator (VI) suggests that right now, the balance of power between the buyers and sellers is roughly equal. At any time a player may appear whose position size will make a significant difference to the balance of power of the opposing armies. Moreover, if you pay attention to trading volumes, you will notice that right now they are not very different from typical volumes for this asset. The same ones that would have made Bitcoin almost stand still just a short time ago.

All this shows that key players have not yet entered the market. The very ones whose combined volume could move the price significantly in any direction. If any of them suddenly thinks that the growth potential of the first cryptocurrency is exhausted and it will soon waste the last strength, it will provoke a wave of sales. On the other hand, consolidation above $51,000 will be a signal for massive buying.

However, the overall picture remains the same. Now or later, BTC will move beyond the bullish pennant and continue to rise, registering a new all-time high on the way. Because the weekend is a time of uncertainty for the market, there is a chance that on Saturday and Sunday we could consolidate above $50,000 and shift the interest zones of buyers and sellers considerably, making a new trading channel.


Ethereum never ceases to amaze. Even though the magnitude of its moves decreased slightly, over the past 24 hours the second largest cryptocurrency not only managed to recoup its losses, but also recorded another local high, conquering even the $4,000 level. Well, those who didn’t buy the leading altcoin at $80 – $100 and didn’t hold it until today probably have a hard time now. Perhaps it’s worth trying the same trick with Solana?

At the time of writing, ETH is trading at $3,926 and apparently isn’t going to stop there. Technically, the largest altcoin has almost reached a resistance zone, further complicated by the close proximity of the cryptocurrency’s latest all-time high.  However, I’m sure that fee burning, NFT projects and the resulting deflationary nature of ETH will allow this asset to cope with these challenges as well.

We will continue to follow developments closely. It’s quite possible that before the end of this year, Ethereum will reach $10,000.

The Fear and Greed Index

The Fear and Greed Index has taken a couple of steps towards “fear”. It looks a bit inconsequential, especially as globally Bitcoin has significantly intensified its onslaught on bearish positions. It’s likely that doubts are starting to emerge in the market as to whether BTC can take a new price level. However, it’s just a matter of a couple of pips. By tomorrow, in case the market doesn’t change its priorities completely, we can approach the zone of “extreme greed”. However, caution should not be neglected either.

Top 10 altcoins

CoinMarketCap’s top ten, for the most part, are responding favourably to Bitcoin’s efforts. The exceptions are Cardano (ADA), Dogecoin (DOGE) and Uniswap (UNI). Yet the latter, after all, is the eleventh. Moreover, it’s unlikely that an investigation by the US Securities and Exchange Commission (SEC) would not have affected the price of UNI.  Another lawsuit that will eventually drag on like the Ripple (XRP) case.

Dogecoin, Elon Musk’s favourite cryptocurrency, is now settling at number eight on the CoinMarketCap’s list. That’s a decent result, so let’s wish the crypto dog good luck!

Cardano doesn’t want to grow at all. Technically, the coin has everything for a significant leap higher, however, neither the approaching integration into the smart contract network, nor a significant accumulation of positions, have provoked this altcoin to action. Let’s wait for further developments.

As usual, Solana surprises everyone.  Not only did it move one of the old-timers of the crypto market out of its place, but it even crossed the $150 mark at one point. At this rate, even Ripple will have to step aside very soon.


Revain is the new day’s top gainer among the top 100 altcoins according to CoinMarketCap. During the last day, this asset brought its holders about 30% return. On a weekly basis, it has already exceeded 140%.

Of course, Bitcoin will decide a lot, but if the trend doesn’t change, REV has already exhausted its potential and it will go to a correction, followed by an accumulation. Things could change, though. Particularly, if some newsworthy events occur with this coin.


The loser of the day is a well-known Avalanche. For the last day, this asset brought its investors about 7% losses.

Locally, the coin is moving within the descending trading channel, but there’s a support in the way, so soon the situation can change fundamentally.

The cryptocurrency market is at a crossroads. The outcome of Bitcoin’s attempts to break through the resistance will determine the subsequent continuation of growth in the rest of the sector as well. On a wider scale, of course, the first cryptocurrency is poised for a new bullish rally. However, nothing will start until the move is confirmed by the setting of a new local high. The trading zones will not change and many players will still doubt that BTC has the potential to go higher.

Don’t forget to be cautious and don’t not neglect risk management.

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Rudy Bauer avatar
Rudy Bauer

Photographe, Vidéaste, webdesigner et enfin rédacteur pour CoinTribune: l'image, le digital et la blockchain sont mon dada.


The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.

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