Brian Stutland of Equity Armor Investments spoke on CNBC’s “Futures Outlook” about Bitcoin (CRYPTO:BTC). He said we have never before in history had a monetary value storage place that is traded down in decimals and it has a finite limited supply.
He sees the $55,000 area as a support area and he wants to use futures to make a bullish trade on Bitcoin. Stutland wants to buy the March expiration contract at $55,500 and his target price is $60,500. He would place a stop loss at $51,000.
Stutland advised viewers to be careful because each contract is 5 Bitcoins so, at the levels he proposed, he is risking $22,500 to make $25,000.
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