Actually it is difficult for us to decide the right time to invest in Bitcoin, but we have to read and research a lot about it
The right time to invest in bitcoin is now because bitcoin price waits for no one likewise time. Waiting is the dumbest thing any new investor will think of, reading and making a lot of research about when to buy bitcoin is a waste of time and a sign that you are not prepared or ready to start your bitcoin investment.
Secondly when the market goes down too much. At that moment we should buy as much as possible. so we can temporarily invest the emergency money in bitcoins so that we can buy more at low prices while buying bitcoins (Not every time, it only when the price of Bitcoin will dumping a lot.) and then put the emergency money back again as soon as possible.
This is a wrong practice and a way to demolish your bitcoin investment by selling it when it if not of your own will because you neglect the important and necessity of emergency funds at all time when you are investing in bitcoin.
Emergency funds is not funds that you can use to buy bitcoin when the price dips because it shows that you are gambling and over buying aggressively which will later burn you. This is because you don't know when an emergency will arise and if you use your emergency funds to buy bitcoin at the dip because it's cheap and the next day a real emergency arises like the roof of your house gets pulled of by storm or you lost your job, what will you fall back to. You will sell your bitcoin investment and go back to square one.
Emergency funds should never be tampered and that is why it is good to have a reserve funds available and an emergency funds. So that when there's a dip, you can use your reserve funds to buy at the dip because you are prepared for it. If your DCA is ongoing and you don't have a reserve funds, there's no need to worry about buying more bitcoin because your ongoing DCA will still make you benefit from the dip.
That means we can use that emergency fund both for investing when the price of Bitcoin is low and also for emergencies.
No, you cannot and it is a wrong mindset.