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Bitcoin eyes a bull run after holding key support and breaking resistance around $84,600.

Analyst Insights
16 Oct 2026
Finbold
View Source
Bullish
Bitcoin eyes a bull run after holding key support and breaking resistance around $84,600.

Bitcoin has dropped over 5% recently, trading near $82,166 as of October 16, 2026. However, analyst Captain Faibik expects a bullish reversal if Bitcoin can consistently close above the $84,600 resistance level. The price has held a buy zone around $81,583 and formed a bullish descending channel on the 4-hour chart. Increased selling pressure from U.S. investors has weighed on Bitcoin, but renewed accumulation, especially from institutional players like BlackRock, could trigger a new uptrend. Trading volume has decreased by 24% in the past day, yet Bitcoin is up over 8% in the last month, signaling potential for further gains.

Bitcoin on Pluang trades at Rp1.476.851.277 as of Oct 16, 2026 21:32 WIB, showing a 1.86% gain in the last day. The market cap stands at Rp29.641,29T with a 24-hour volume of Rp543,58T. Buy orders dominate at 62%, while typical hold time is 111 days, indicating steady investor interest despite recent price fluctuations.

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