To me, it is a bit unclear what @snowpega is doing since he seems to be DCA'ing and also buying on dips, and there is nothing wrong with that so long as the person doing the BTC accumulating is still going to be sufficiently happy with what s/he had done if the BTC price ends up not dipping down to the expected prices whether that is going into the $23-$24k range or even dipping into some kind of an area that approaches $20k per BTC
I remembered someone commented on this thread that he is using DCA to buy and at this same time, he setup some funds for buying at what he considers as dip... I guess that is what @snowpega is doing. Like you said, anyone following this approach should be prepared not to beat himself up if Bitcoin price did not follow through as they expected.
To me it continues to seem unrealistic to be putting too many hopes into buying on further dips when we are still more than $1k below the 200-week moving average..yet at the same time, there is nothing wrong with having some lump sum amounts that might be on the sidelines and ready to buy at various price points if the BTC price does end up dipping.. It just seems to be a common mistake for newbies to end up holding too much in reserves in order to prepare for dips that might not end up happening
By Newton's Law of physics, a body will continue in it's state of rest or uniform motion unless it is acted upon by external force. This law of inertia also apply to humans in a way. Some people will continue to expect dips and further dips until there is an obvious sustained bullish regime. This is how some people are wired. I do not consider this a defect rather, I see it as a demonstration of our uniqueness. So, even though it may not seem realistic to you there are those who are convinced that price will dip further irrespective of it being oversold or not. What I have described is not peculiar to newbies, there are conservative old hands who still display this tendencies.