Crypto analyst sets condition for Bitcoin to resume bull run
Despite Bitcoin (BTC) falling more than 5% over the past 2 weeks, trading at approximately $82,166 on October 16, 2026, popular pseudonymous crypto analyst Captain Faibik, or CryptoCove, expects a renewed bull run after a breakout above a short-term falling channel. Captain Faibik stated that for Bitcoin’s uptrend to recommence it must consistently close above its major resistance level around $84,600, according to his Analysis that Finbold obtained on Friday. BTC/USDT 4-hour chart analysis. Source: CryptoCove The crypto analyst defended his bullish thesis on the fact that Bitcoin price has so far defended a buy zone around $81,583. Additionally, CryptoCove argued that the BTC/USDT chart on the four-hour chart has been forming a potential bullish descending channel. When will Bitcoin rebound? Bitcoin price has faced more selling pressure over the past two weeks, driven by increased distribution from investors in the United States. As of press time, t...