But we can follow the market and make various predictions to understand the minimum price of Bitcoin can fall to USD so accordingly we can create many Dip positions and when the price of Bitcoin reaches that price we can buy Bitcoin according to our financial condition and ability to invest. And if we can hold them for long term then it will be very easy to make good amount of profit.
No matter what strategy you use if you can't hold bitcoin long term. In that case Bitcoin will not give you a very good return. so your main focus in investing in Bitcoins should be to hold Bitcoins for the long term
I know the method you mentioned is a very profitable method. No one will discourage you from buying dip. To buy a dip you have to wait until the specified time and the specified dip position is reached. Because of this many times you may fail to buy dips and may discourage you from investing.
I can tell you a method as simple as dip buying method. That way you can buy more dips and you can get more profit if you hold it for a long period. Instead of waiting to buy the dip, you can buy small amounts of regular bitcoin as long as the price remains below the new ATH. As long as it doesn't make new ATH you keep your investment and commit to long term. For example, the current ATH of Bitcoin is around $73k, that is, until the price of Bitcoin does not cross $73k, you should consider the price of Bitcoin as a dip and keep buying. When the price crosses $73k and creates a new ATH, you should stop your investment and try to go long. As a result if you start this method now your average dip buying price will be between $65k-$67k. Bitcoin is predicted to be worth $120k or more by the end of this year or next year. If you think you won't buy this savings before the sale, you can (potentially) sell for $150k even if you want to sell after 4 years. Where your average purchase price was $67k and your selling price would be $150k+, your profit would be more than the purchase price. Thus if you target another ATH and trade using the same method then after 4-12 years you can get 3x-4x profit.
I generally prefer the DCA approach, thinking about such an approach in relevant words and discussing it with you. Please correct any mistakes in this procedure.
Without any argument, buying below the current ATH can be considered as a dip and it is profitable as long as Bitcoin would break a new ATH someday. It is very realistic to assume that 120k$ can be the next ATH, just know that even a 1$ increase above the current ATH can still be referred to as a new ATH. When buying on dips there are things that are most importantly needed for an investor to keep in heart. Which is long-term. People may consider the long term to be a year, or two years but if you want a complete Bitcoin cycle for assurance on profits then a 4-year period is satisfying as long as we continue to accumulate within this timeframe and did not tamper out investment.