Bitcoin Suffers from 'Week of Pain,' Bounce Ahead?

Bitcoin has had a rough week. Although the world’s largest cryptocurrency is up nearly 3 percent today, it’s plunged nearly 13 percent over the last week.

Jim Iuorio and Brian Stutland, traders at Futures Now, joined CNBC’s Jackie DeAngelis to share their outlook on Bitcoin’s price.

“It’s due for a bounce,” said Iuorio. “If it trades $6,560, I think that’s a technical sign of strength on the short term… with a target of about $6,960.” Iuorio also believes that investors should keep a stop-loss near the $6,340 mark.