Although there is nothing wrong in waiting to buy the dip if you have discretion income to buy at any given time. Or if you are combining other strategies. The only problem one can face is only focusing in buying Bitcoin dip without consedering other investment strategy. Because there is alot of people that only want to buy bitcoins when it is dip as a main priority and forgets to buy through DCA, in such situations such person can be considered missing opportunity.
You can buy the dip but don't time the market. For a Bitcoin investor waiting to buy the dip should be a second option for accumulating Bitcoin. The first choice must be one of the strategies like lump sum or DCA to mention a few others. DCA is more a comfortable approach to buying Bitcoin while waiting for the dip to buy.
Waiting to buy Bitcoin on dips when there is no consistent strategy that an investor puts into practice is similar to timing the market and timing the market is literally trading if you look at it properly.