Where it's really wrong waiting for the dip before buying is when you have no Bitcoin or less stash of Bitcoin in your possession, at that instant, you don't wait, you just buy it regardless of it current price in other to increase your stash as much as possible, then if their is a dip in the market, you might decide to buy aggressively only if you have the financial leverage to do so, but waiting as a low or no coiner is actually a terrible mistake in my own opinion.
I disagree with you here. You will be making a mistake if you wait to by the dip when you don't have any strategy you are using to accumulate. Buying on dips should be a secondary/temporal method of accumulating Bitcoin. The primary method should be one that you are using to accumulate Bitcoin on a steady till you reach your accumulation goal. Whether you have a lot of Bitcoin in your portfolio and you have not reached your goal with your primary method of accumulating if you wait for the dip to buy you will definitely miss out of opportunities to buy and the dip may never come which is basically trying to time the market.
Another thing you should know is that buying on dips is not compulsory at all dips. If you don't have extra discretionary income to buy the dip don't buy. People do mistake of using money meant for emergencies to buy the dip and when an emergency appears in the future they go back to touch their investment what is now the essence of buying the dip then it will even be worst if when they tamper their investment the market is in a downtrend this means they will lose some value of their money in the process.