This Strategy is quite logical and would be beneficial to traders. The truth is that to be a good trader one needs to be patient and calculative. The market can even seem to be very difficult, despite this tactics. This could be due to excessive dumps which could render ones trading capital in the negative.
This market has basically been manipulated, so forecasting will become very difficult. Today the market will pump to create Fomo but the next day the market can dump and make those investors panic. I am familiar with this since joining and it is best to have a reasonable investment strategy because trading always requires a lot of knowledge and any mistake can make a loss.