CNBC Futures Now trader Jim Iurio has predicted that bitcoin will trade above $6,800 based on market analysis that holds $6,000 as its critical support level. Speaking on the show alongside Anthony Grisanti, Iurio stated that market tacticals hold the key to accurately predicting the movement of bitcoin on any meaningful level.
He made the comments on September 20 during trading on the floor of the Chicago Mercantile Exchange (CME) ahead of the close of the latest CBOE bitcoin futures contract. In his view, while bitcoin does not seem to have any fundamentals with which to base its pricing on, the use of market tacticals can be a useful way to predict its pricing, specifically a trading technique called ‘stop-in’.
Read the full article »
CNBC Analyst Predicts Bitcoin Bounce Back Based Purely on Market Tacticals