🐋 Beyond watching the charts, there are other things you should know: average entry price
Adding to a long position below your average entry price lowers the average, but it also increases your position size, so a drop of the same magnitude results in a bigger loss.
The breakeven price is the price at which you truly break even after including trading fees and funding fees: for a long position, it is generally higher than the average entry price; for a short position, it is lower.
By the way: $BTC Current price 75244.01 (24h -0.65%).
Funding fees are also a cost of holding a position, so the longer you hold, the more carefully you need to account for them.
Adding to a long position below your average entry price lowers the average, but it also increases your position size, so a drop of the same magnitude results in a bigger loss.
The breakeven price is the price at which you truly break even after including trading fees and funding fees: for a long position, it is generally higher than the average entry price; for a short position, it is lower.
By the way: $BTC Current price 75244.01 (24h -0.65%).
Funding fees are also a cost of holding a position, so the longer you hold, the more carefully you need to account for them.