Well it's not far from what actually happens but usually people profit from studying the charts first before making their buy in and timing when to sell. Volatility is a common theme on crypto trading but it's better to know the basics of trading like familiarizing yourself with reading charts so you can make a trade plan. There are a lot of free guides out there available online to start with but it's best to read and read and read a lot of different strategies because there's no single system that can fit through all trading circumstance.

Learning how to trade is a daunting task for beginners but it's one of those skills you only learn by doing. While you're still figuring out how to trade, it's better to level your expectations to the idea that you will lose money but you will learn lessons that could make you a better trader and lead you to more money.