A good rule of thumb is you should rarely (only once or twice a game) exceed 10% of your time for a single move. So in a 10 minute game that'd be 1 minute. Most of your "long" thinks will probably be more like 5%. In a 10 minute game that'd be 30 seconds.
In blitz especially you want to know your openings well enough to play them quickly. That way when the position gets tough you can actually afford to spend those 10% thinks in the middlegame without much to worry about.
In normal games it's good to have a position you're comfortable playing (your moves are easy to find) but in speed games it's even more important. Things like the initiative and easy plans are worth a lot. So sometimes that means playing aggressively (if you can keep the initiative) and sometimes that means playing positionally (when you understand the plans well and your opponent's position isn't as easy to improve).
And then in the endgame, ideally you know your endgames well enough to play them pretty quickly (like the opening).
Basically to be good at blitz you have to be good at chess in general... but since it's low time the different elements are things like easy of play which includes the initiative.
How long should one take when calculating? Should I play aggresive or positional?