I think I made a mistake buying at $23,500 (obviously), so when should I really start to panic now that we dropped to $18K?
At what price point now should I consider to add more to average in at? Like, if you owned a bitcoin at $23,500, would you wait for $10K or 15K to start adding more to average in your high price of $23,500?
At the price of $ 18k you can increase the amount of Bitcoin balance. Then you sell at $20k, and buy again at $18k. In no time the loss amount you bought at $23k will be covered by the balance you bought at $18k. But don't sell all of it, just hold some of it until the Bitcoin is actually pumped.
This might work, but no guarantee. In fact it might only get complicated for the OP's position, because he is even worried about the $23k buy and then you need a separate fractions of Btc to cover the loss? No, it's not even a loss as long as he's not selling any of those he bought.
DCAing would definitely work for him. Buy at any given entry points. Don't chase for what you think your loss, let Btc cover it for you, look at the historical data and calm yourself down.