We propose a trial wave function for the quantum Hall bilayer system of total filling factor at a layer distance to magnetic length ratio , where the lowest charged excitation is known to have a level crossing. The wave function has two-particle correlations which fit well with those in previous numerical studies, and can be viewed as a Bose-Einstein condensate of free excitons formed by composite bosons and anti-composite bosons in different layers. We show the free nature of these excitons indicating an emergent SU(2) symmetry for the composite bosons at , which leads to the level crossing in low-lying charged excitations. We further show the overlap between the trial wave function and the ground state of a small size exact diagonalization is peaked near , which supports our theory.

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