I guess no need to wait for a long time to make a profit because if you see on the market, many coins can rise and some of the coins break the higher wall, so it is good to try to buy and sell. But if you decide to hold for a while, then it should no problem to you because you can hope when the market recovers, that is the time for you to take your profit. But unfortunately, we don't know when the market will rise, and if I were you, I would try my chance to trade because I don't want just wait and see and hope and I don't think it's a bad idea to try.
Daily trading was never been a bad idea if you know how to execute a winning trade, stopping loss, and other techniques to prevent devastating loss. Actually, with this bearish trend, It is almost impossible for an individual to gain good returns if he continue to hold long term. So, what you were suggesting is good, It just need good execution as well.