actually now is the right time to hold because the btc value is currently very low, but some people do day trading so they can get a continuous profit, in my opinion both are good to do now, but i still prefer holding
Yes.Holding for a long time might still give us sure profit but in a long term.Some would still do day trading but i believe it is more risky and stressful and requires more skills so you would end up gaining profit.But if you're really a good trader,whether the price is up or down,you can still gain profit in short term or long term trading.
A good trader can make money on the way up or down, I agree. Trading is a game of probabilities, there are lot's of tools that help you to judge whether an asset will most likely go up or down in the near term. if it goes down you look at previous resistance levels, fibonacci retracement or bollinger bands. These can help you to make a case regarding the highest probability whether an asset is likely to go further down or stabilise. It can be years to become a really good trader though. Most people loose more than they gain.