The crypto market continues to build momentum as October kicks off with a bullish tone. Bitcoin (BTC) and Ethereum (ETH) have surged around 10% and 12% respectively over the past week — and this optimism is rippling across major altcoins including Bitget Token (BGB).
BGB has climbed nearly 9% in the last seven days, and more importantly, its chart structure hints that a major bullish breakout could be on the horizon.
Double Bottom Formation in Play
A closer look at the weekly chart reveals that BGB is carving out a double bottom pattern, one of the most reliable bullish reversal setups in technical analysis.
After rebounding sharply from the $4.00 support area — marking the second bottom — BGB has steadily climbed toward the key neckline resistance near $5.70–$5.84. This zone is crucial, as a breakout above it could confirm the reversal and potentially trigger a new uptrend phase.
The pattern’s symmetry and the gradual rise in momentum strengthen the case for a bullish move.
What’s Next for BGB?
If Bitget Token manages to break above the neckline resistance with strong volume confirmation, it would validate the double bottom structure. In that scenario, the projected upside target could reach around $7.69, based on the height of the pattern — translating to roughly a 35% potential rally from current levels.
On the other hand, failure to break above the neckline may result in short-term consolidation before another attempt to push higher.
For now, all eyes remain on BGB’s price action near the neckline — a successful breakout could mark the beginning of a new bullish phase for the exchange-backed token.
Disclaimer: This article is for informational purposes only and should not be considered financial advice. Always do your own research before investing in cryptocurrencies.
The opinions and market insights shared on CoinsProbe represent the views of individual authors based on prevailing market conditions at the time of publication. Cryptocurrency investments carry significant risk and volatility. Readers are encouraged to conduct their own research and seek professional financial advice before making investment decisions. CoinsProbe and its contributors do not accept responsibility for financial losses or decisions made based on published content.
CoinsProbe may publish sponsored articles, affiliate links, or promotional collaborations. All sponsored material is clearly labeled to maintain transparency with our audience. Our editorial decisions remain fully independent, and advertising partnerships do not influence reviews, rankings, or published opinions.
Since 2023, CoinsProbe has delivered reliable insights on cryptocurrency, blockchain, and digital assets. Our content is created by experienced researchers and analysts who follow strict editorial standards focused on accuracy, transparency, and credibility. Every article is carefully reviewed and verified using trusted sources and current market data. We provide unbiased analysis and timely updates covering everything from emerging crypto projects to major industry developments.
