day trading cryptocurrencies will only create headaches for you, this is a market that is not worth day trading, before you start learning how to day trade, first you need to investigate how many people are profiting from day trading and what is the capital that each of these people is using, because what I have seen on the internet, particularly on youtube are people who have youtube channels that talk about cryptocurrencies and day trade, they are teaching how to day trade but no one of them shows what capital they have and how much money they make per day, per week and per month doing day trade. so with this omission of information
For the day trading,you need to analysis the market well.Today is the best example for the market variation in the single day.The price of bitcoin had raised to 31,800 dollars,So most of the people had their investment to the bitcoin today.Many had cash out some dollars after the reach of 31.8k.Hence the value back to 30,150 dollars in a single day.This only affect the people who do day trading,others may escaped by holding or taking the profit from the new ATH of bitcoin price.