$BTC Bitcoin market update & technical analysis on 7.14: Bitcoin is forming a rising wedge structure around 62,000, with a consolidation and continuation phase in the middle. At the moment, it is in the B-wave rebound cycle of this consolidation structure. It is possible that this line position will mark the end, then price rises again. Overall, the structure is an ABC oscillating move; after the B wave is completed, the next step will be a C-wave upside rally.

Structurally, there are three possible paths for Bitcoin, shown as the yellow, red, and white routes. If the B-wave correction completes, price could drop a bit lower to around 61,000, then start the C-wave rally. After this consolidation zone finishes, the overall structure remains an upward continuation; the next market move is worth looking forward to.

Ethereum’s structure matches Bitcoin as well—it is also in the C wave. This coin has undergone long-term consolidation, and it is currently in the B-wave oscillating rebound structure. If the first ABC cycle ends, it may continue to move within the upper range afterward. This is a good time to position for altcoins; after the consolidation structure completes, the next move higher is expected.

Trade entry suggestion: For Bitcoin, consider a low long position around 61,000, and place the stop-loss below 60,000. Ethereum follows Bitcoin’s trend; you can build long positions near the support level. Be sure to control position size—when the market is choppy, don’t chase; wait for structure confirmation before entering. Risk warning: The above analysis is for reference only and does not constitute investment advice. The market is risky, and you should be cautious when entering.