For me, the answer is yes because the strategy you're describing is commonly practiced in the cryptocurrency world, not just with Bitcoin but with other digital assets as well.
HODLing involves holding onto Bitcoin regardless of market volatility, with the expectation that is value will increase significantly in the long term.
HODLing is a good strategy and Bitcoin since 2009 shows that DCA plus HODLing are very good to get profit through investment in Bitcoin.
It is applicable for altcoins too but only profitable when applied for good altcoins. Ethereum is a controversial altcoin but it is a second biggest cryptocurrency and a another good example for success with DCA and HODLing.
With other altcoins, this strategy can not help because they can appear and die quickly.
Dead Coins: Over 50% of Cryptocurrencies Have Failed