Let's assume I'm doing DCA of $500 or $1000 into Bitcoin during the dips...
Imho, you shall either use "buy the dips' or "DCA" methodology.
I am not sure whether the hybrid approach works.
DCA typically means that you buy daily, weekly, bi-weekly or monthly (as a paycheck or cash flow comes depending on how you get paid).
The hybrid method does work! I'm using it but the allocation of my income is 80% "DCA" and 20% "for buy the dips". So far, I have not missed out on anything, and I feel accomplished.