To make monthly income by trading bitcoin and alts you will have to do good research.
The market is quite volatile at the moment so good research is key if you want to make profit.
Personally I focus on reading many articles and attending to bitcoin meetups.
I use some free software that predicts the future markets of several coins.
www.cryptoforesight.orgThe software doesn't predict the exact movements but still I made $200 profit last week just by following predictions.
So, if you want to be a successfull trader... Do your own research! don't be affected by the hype and fud.
Last but not least, don't quit trading if you fail the first try as you will learn new things every day.
You have very beautifully explained each and everything. As you said, the market is quite unpredictable. So I think it all depends on your smartness and mindset which will help you in making a good amount of money by trading. You need to be very much active and attentive all the time, keep on listening to the news. Think well before making any decision.