That strategy requires you to have good timing on the market. But the problem is, by doing so, it will make you emotional and you will be prone to make mistakes making you lose some of your money.
If you want the best strategy for ordinary investors like us, "buy the dips". If you have a job you should save 20% of your monthly salary and make that available to buy when Bitcoin's price is falling.
This topic should be on trading but this is what I'm doing I'm setting the sell to a price of 20-40% but I'm not using the profit to buy another btc. Some times I'm using it to buy some alts or cashing it out to pay for monthly expenses. And when I got lucky and the alts that I bought gave me a promising profit then I will buy again a Btc.