I think buying bitcoin is stupid now. The price may fall lower especially if we take into account the deviation of bitcoin ETF today.
I totally disagree with you if you buy on long term. Even medium term. If you plan to hold your bitcoins for 5 years, bow and next year is best chance of your lifetime. What is left of your lifetime of course. You will never have better chance again.
Planing to hold for a long term is a good idea but it needs a lot of patience and some huge courageous nerves to fight with the time. By the way I personally like target based holding. It minimises the risk ratio as well as you are most of the time updated with with the events and occurrences to get a good view of the market. You get more opportunities to achieve your target.
No. Holding long time is totally simple. You dont have to do anything at all. Cant be more simple as that. But if you want to do something I suggest you this SSS method.
https://bitcointalk.org/index.php?topic=345065.0 You sell 10% when price doubles and buy back when decreases. This way you never miss moon, so sale to early and you also get returned your investment and dont end up with full bags.