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Lump sum is when an investor buys a large quantity of bitcoin at once when his money is readily available, while buying the dip is when an investor already have the money to buy the dip, but he's only waiting for the bitcoin price to drop so that he can activate his buy. Lump sum and buying the dip are not similar. Any investor who is waiting for the bitcoin price to drop so that he can buy bitcoin with lump sum strategy is buying bitcoin with the buying the dip strategy.
Usually, people who frequently wait for a Bitcoin price drop to buy Bitcoin are not considered investors; rather, they are more commonly referred to as traders, as they have no guarantee of holding Bitcoin long-term after successfully buying Bitcoin at a dip. Therefore, in my opinion, waiting for a price drop is not part of an investor's strategy because investors typically don't waste more time when buying something like Bitcoin, even if it's not a large amount. However, there's nothing wrong with that, as everyone has their own preferences and techniques when it comes to investing. However, if someone frequently waits without executing, it can be detrimental to themselves by wasting time.