Yes, that's definitely right. It's best for an investor to observe when to buy and have the right knowledge.
A long term bitcoin investor only need to be able to figure out his or her discretionary income to use and accumulate bitcoin and hold for the long term goal. I don’t really understand what you have in mind when you are talking about observing when to buy, but if it is all about you trying to observe market price before you buy or accumulate bitcoin then you’re getting a wrong investment mindset and that is a mindset of traders who only comes in for a short and quick profit making mindset. They waste time trying to time and observe the market to buy whenever they noticed the price is low so that they can sell when the price is high, and also they panic and sell too Early whenever they noticed a little downturn in the market price or when it’s not going their way and that will lead them to a loss because at that time they will surely sell at a huge loss.
As a long term bitcoin investor, you don’t have to observe the market price before accumulating bitcoin, all you need to do is to focus on figuring out a discretionary income to consistently or perhaps persistently accumulate bitcoin and hold for the long term purpose, using the DCA method of accumulation either weekly or monthly depending on how your income flows.
Constantly watching the market before buying Bitcoin usually pushes people into a trader’s mindset instead of an investor’s. Trying to time the market often ends with stress, panic selling, and losses.
For a long term investors, the key is figuring out how much discretionary income you can commit and sticking to a consistent plan, regardless of short term price swings. That’s why DCA is effective because it always removes emotions and guesswork while building steady accumulation over time. It’s not really about buying at the bottom. The difference is that investors usually think long term, while traders are mostly chasing short term price swings.