Market Overview

Jim Iuorio's Bullish Bitcoin Trade

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.

Related Links:

WSJ: Facebook Looking To Make Cryptocurrency Push

ETH/USD Sets Eyes On $200 As CFTC Readies For ETH Futures

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


Related Articles

View Comments and Join the Discussion!

Todd Gordon's SPDR S&P 500 ETF Trust Trade

World's First Electrified Roadways Enter Operation In Germany