Low capacity and reliability are the challenges in the development of ionosphere communication channel systems. To overcome this problem, one promising and state-of-the-art method is applying a multi-carrier modulation technique. Currently, the use of multi-carrier modulation technique is using a single transmission frequency with a bandwidth is no more than 24 kHz in real-world implementation. However, based on the range of the minimum and maximum ionospheric plasma frequency values, which could be in the MHz range, the use of these values as the main bandwidth in multi-carrier modulation techniques can optimize the use of available channel capacity. In this paper, we propose a multi-carrier modulation technique in combination with a model variation of Lowest Usable Frequency (LUF) and Maximum Usable Frequency (MUF) values as the main bandwidth to optimize the use of available channel capacity while also maintaining its reliability by following the variation of the ionosphere plasma frequency. To analyze its capacity and reliability, we performed a numeric simulation using a LUF-MUF model based on Long Short Term-Memory (LSTM) and Advanced Stand Alone Prediction System (ASAPS) in Near Vertical Incidence Skywave (NVIS) propagation mode with the assumption of perfect synchronization between transmitter and receiver with no Doppler and no time offsets. The results show the achievement of the ergodic channel capacity varies for every hour of the day, with values in the range of 10 Mbps and 100 Mbps with 0 to 20 dB SNR. Meanwhile, the reliability of the system is in the range of 8% to 100% for every hour of one day based on two different Mode Reliability calculation scenarios. The results also show that channel capacity and system reliability optimization are determined by the accuracy of the LUF-MUF model.