How to Day Trade Crypto? Simplest Day Trading Strategy Ever

The crypto market has spawned an army of day traders and long-term blockchain adherents in recent years. The investors dreamed of retiring early and wealthy by capitalizing on crazy market movements during the great crypto bull.

Different sources fed them a diet of news and analysis proclaiming crypto was headed to the moon. Well, the results were different.

It is, therefore, crucial to learn how to trade. This article will show you how to approach Bitcoin and crypto day trading, not as a blind believer in blockchain, but as a calculated pro speculator who knows exactly when to hold and when to fold.

Crypto day trading, or intraday trading, involves buying and selling cryptocurrency assets within the same day, allowing traders to capitalize on short-term price fluctuations without holding positions overnight.

Cryptocurrencies are favorable instruments for day trading due to their highly volatile price movements, strong technical respect on liquid pairs, and clear momentum windows. Day traders can potentially achieve greater profits, but they also face significant risks.

Massive volatility follows consolidations. Price movements are dramatic, and declines are stunning.

I love the crypto market because short-term trading strategies, which I typically use on a daily chart, work like a charm in intraday trading.

If you want to learn more about day trading, read up on Jesse Livermore, a seasoned stock trader who first observed that different stocks and markets have different attributes nearly a hundred years ago. His observations are just as accurate today as they were then.

First, You Need a Trading Plan

The 2017-2018 crypto frenzy taught me one critical lesson: without a plan, even the biggest boom can end in loss.

Back then, Bitcoin surged from $6,000. Friends quit their jobs to trade full-time, urging me to join. I was clueless about cryptos, preferring to trade stock indices or Gold CFDs.

I believed the market would collapse after breaking the $10,000 psychological barrier, so I waited and watched.

Bitcoin kept rising—straight past $20,000. I could see guys getting rich all around me, and here I was, having traded markets for over 15 years, feeling like a pauper in comparison! I had to rethink my entire premise of how markets worked. Investing in cryptocurrencies seemed compelling.

• Limited supply

• Global, pseudonymous transactions

• No central bank printing it endlessly

• A tool for financial sovereignty

• Predictions of $100,000 or more

I hoped Bitcoin would return to gravity so I could load up. Then came the regulatory crackdown, and the market plunged.

Fundamentally, you need a trading plan to trade the markets successfully, whether it's crypto, stock index, or Gold CFDs. None of my friends had one, and it came back to bite them in the butt.

As a full-time trader, I'll make one thing clear: If you don't have an exit plan, you are doomed to fail in this business.

Understand How to Read Charts

Traders use price charts to evaluate the market, predict trends, and develop trading techniques. Understanding how to read the charts helps you determine whether the market is going up, down, or sideways. It helps you determine which technique to use in each trend direction.

I've traded Bitcoin many times on the Mitrade platform for the past two years,

Now let's look at the live price chart of Bitcoin▼

Mitrade is a multi-asset trading broker that provides over 300 most popular global trading markets, such as currencies, commodities, cryptocurrencies, shares, indices, and more.

►Open the chart now to analyze trades on Mitrade

Create an Account and Get Familiar with the Platforms

Here's a simple guide to get you going:

1. Sign Up: Go to our registration page and enter your basic details—name, email, and a password.

2. Verify Your Email: Check your inbox for a confirmation link and click it to activate your account. This helps keep your account secure.

3. Take a Look Around: Once you're in, spend a few minutes exploring. Start on the main dashboard to see key tools and menus.

Explore Cryptocurrencies for Day Trading

If you’re new, please note: cryptocurrency trading carries significant risk due to extreme price swings.

If you choose to enter this market, a practical way to start is by focusing on more established coins.

Consider beginning with Bitcoin, the largest and most widely recognized cryptocurrency, or Ethereum, the second-largest by market cap.

This isn’t about limiting you to just two coins—it’s a strategy to help beginners reduce risk by starting with major, more liquid assets while learning the ropes.

There's a perception that you need to watch multiple timeframes on multiple screens and access a constant stream of news-to-day trade successfully. I've made a career trading insanely simple patterns. I only employ a short-term simple moving average. Let's look at the simple day trading strategy.

The Core Day Trading Mindset: Ride the Big Wave, Catch the Small Pullback

• Ride the Big Wave

  Only trade assets that are clearly rising on their monthly or yearly chart. This keeps you on the right side of the bigger picture—where value is growing and fundamentals are improving.

  
  

• Catch the Small Pullback

  Don’t chase the price when it spikes up on the daily chart. Instead, wait for a short-term dip—often caused by panic or profit-taking—and look to enter when the price nears its key monthly average. Think of this average as the “home base” for long-term value.

  
  

  What you’re doing here is simple: buying the temporary dip within a strong, longer-term uptrend. This approach offers better odds and a clearer safety net—you're entering when fear is high but the trend is still firmly up.

Chart Example: Trend Pullback (BTC, 15-Minute Chart)

You’re not predicting a breakout. You’re entering after the market proves demand still exists.

Market context

• BTC trading above 50-EMA and 200-EMA

• Higher highs and higher lows

• Strong volume during London–New York overlap

What traders look for

• A pullback into dynamic support (20-EMA / 50-EMA)

• RSI holds above 40–50 (trend strength intact)

• Price rejects support with a bullish candle

Entry

• Buy on confirmation candle close above minor resistance

Stop-loss

• Below the pullback low (defined invalidation)

Target

• Previous intraday high

• Or fixed 1:2 risk-to-reward

You might be tempted to dismiss this system because it's simple. But I have made a career out of it.

Many traders choose to fill up their charts with all sorts of things; trend lines, support resistance levels, fib levels, MACD, RSI, etc. When you're day trading, you need to be able to think quickly. If you're processing too much data or metrics, it will confuse you.

Day trading is quite challenging because you can spend long hours at the PC, waiting for a setup to come along. This can lead to lapses in concentration. After sitting for hours, worrying about when a setup will form, and questioning whether you will make money that day, you can become prone to placing trades you shouldn't.

Also, crypto trading involves lots of emotions. You can make money in record time, leading to overconfidence or fear of the market. However, you can lose it as fast. You need a clear head when day trading cryptos.

If you win quickly, you can become greedy. If you lose money too fast, it can set you on a path of revenge trading.

Yep, day trading is hard – but that's why it rewards handsomely.

Successful trading is a business, not a hobby. Like any business, you have profits and expenses. How you manage them determines how far you go.

Day trading cryptos offer fantastic rewards, regardless of whether it goes to $100K or $20k. The volatility in this asset class is truly immense, a dream of every trader.

Do you know a business that doesn't require customers, selling, stock purchases, and marketing? Have you heard of a business that doesn't require a special business premise or license? Or one where you choose working hours?

There is only one such business in the world, Trading.  

Here at Mitrade, make your trading journey as enjoyable and profitable as it can be. Day trading cryptocurrencies is one of the ways. Happy Trading！

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1. What can you trade on Mitrade?

Mitrade allows you to trade CFDs on major cryptocurrencies such as Bitcoin, Ethereum, Ripple, Dogecoin, and SOL. It also gives you access to over 300 different US shares and currency pairs. The following are some of the most traded cryptos you can trade today: Bitcoin, Ethereum, Dogecoin, Ripple, Cardano, Solana, Polkadot, and more.

2. What is the Best Cryptocurrency for day trading?

Volatility is what day traders look for. Many altcoins and tokens have high volatility. However, I do not recommend day trading altcoins because you can rapidly blow away your position.

The forex market is the primary market for day traders because of the relatively low volatility. Cryptocurrencies are more volatile than forex, so I propose trading the mainstream crypto——Bitcoin. Bitcoin's market is fairly stable now and has considerable liquidity.

3. What are the best day trading strategies?

There are several tactics to explore for investors interested in day trading. One of the most effective strategies is news trading (fundamental analysis). The market is generally affected directly by news events, resulting in seismic price changes. A consolidation pattern can precede economic data releases followed by high volatility.

4. What are the risks of day trading cryptocurrency?

The majority of day traders lose money. The more you trade, the more you are likely to make a mistake. Another reason is the high fees. While the fee charged on each transaction is little, it can quickly add up when you trade daily.