As you mentioned closely observe the market and especially the targeted coin on daily basis or in constant mode. I think this is called experience and as many times you observe the market trading, ups and down, and read daily updates about the Crypto market you gain more experience, and without experience and hard work nothing you can get.
The closer looks you take to your target coin to invest your money the better you understand the flow, there are many experienced traders who love watching every ups and downs and notice how they will be able to generate decent profits. There are chances that you'll be able to lessen the time of your holding as you already understand when to place your entry and when to exit out with generated incomes.
All have the opportunity to become investors. Investors who are ready are investors who have a concept, strong capital support and experience in their field which are mutually bound. Other factors like market sentiment and news related changes in financial policy are additional supporting factors. Maybe just a small picture in my opinion.
Money management and mentality ready, if you are aware and you know how to blend it up, the advantages will be in your side.
You have to learned deeper and enjoy your trading business.