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Jim Iuorio's Bullish Bitcoin Trade

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Jim Iuorio's Bullish Bitcoin Trade

On CNBC's "Futures Now," Jim Iuorio suggested that investors should consider a bullish futures trade in bitcoin. The recent move higher in bitcoin is an emotional trade, Iuorio said, and he feels that it might continue.

If bitcoin pulls back to $5,810, Iuorio would buy it. He would set a target price at $6,060 and a stop loss at $5,664. If it moves above $6,000, Iuorio is going to consider increasing his target price. He feels the momentum could continue as investors might become concerned about missing a potential rally.

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Posted-In: CNBC Futures Now Jim IuorioCryptocurrency Long Ideas Markets Media Trading Ideas Best of Benzinga

 

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