BGBUSDT on a Channel Up targeting 0.8000

The Bitget Token (BGBUSDT) has been trading within a Channel Up pattern since March 2022. For the past 3 months it has entered a consolidation in the upper level of the Channel Up around the 1D MA50 (blue trend-line). A similar 3 month accumulation phased took place below the middle of the Channel Up just before the February rally. As long as the price stays above the 1D MA50, we can stay bullish. If it closes below it, we expect the price to seek the 1D MA200 (orange trend-line) for Support and then rebound. In both cases we are targeting 0.8000.

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