I'm new to bitcoin but not new to the stock market.  I know what stock buying on the dip means in terms of buying stocks, but am wondering exactly what does that mean when attempting to time a bitcoin purchase.

For instance, I notice that the 'market' for bitcoin is different than stocks.   Bitcoins trade 24 hours a day, whereas the stock market has a time limit.  There is a beginning and ending to each day.  Using a Candlestick chart pattern for a stock makes sense because the day does have a beginning and ending.  But in terms of Bitcoin, there is an "agreement" that a day should be something related to UTC . . . but still a 24 hour clock - which means candlesticks are kind of 'artificially' created because people want a visual reference and a way to determine technicals . . . if one believes in technical analysis.

A pullback or dip could then be determined by technical analysis - support and resistance, Moving Averages, RSI, MACD, or using other tools.  But it doesn't answer my question in terms of what is a 'dip' for a bitcoin buyer.

Bitcoins appear to trade in wild swings up or down, and from what I've read over 60% of trades are WASHES . . . which means the volume or trades are fake.

So when some bitcoin 'expert' suggests to 'buy on the dip' is that dip during a day trading scenario, a weekly scenario, a monthly scenario?    Would a bitcoin trader think of a 'dip' differently than a HODLer?     

This recent move in price from about $3200 to $4100 seems to be manipulated to me.  A jump in price is happening everyday.  Is that how bitcoin and crypto actually behaves?  That doesn't give much time for a person to make up his or her mind on whether to purchase or not.  They end up chasing.   A whale would love that.   (For instance I have decided to buy and sell on Coinbase Pro.  Lower commission.  BUT it takes 5, 8, maybe 10 days for money to actually appear in your account to trade!   That is so IRONIC considering the technology of Bitcoin, LTC and others are suppose to speed up transaction time.  But the system being used to add money takes days . . . a week . . . or more!   Of course using Coinbase is different than Pro . . . but if someone wants to make small bites at bitcoin, it doesn't make sense to pay 10% commission!   I checked.  For instance, a $10 dollar Bitcoin purchase on Coinbase asked for a .99 fee.  BUT a $100 purchase asked for something like 2.99 fee.   The small guy is on the hook for a higher % fee.   Coinbase obviously want people with $$ and not small fish . . . although the Whales want small fish to eat their $$.    I read the average buy for Cryptos is about $150.  If the average person is buying at that rate, in order to move the price higher requires Whales or Organizations to do so because small players can't make the market at this point in time by themselves in my opinion.)

What would a ''dip' now represent for a HODLer . . . hoping to retest an area around 3600?  or how about the off chance of retesting 3200?  In stocks, once passing an area of resistance can become 'support' and therefore I'm inclined to think that that might be the kind of 'dip' some a referring to.  The problem, many don't say exactly what kind of 'dip' they are expecting relating to what kind of chart . . .4 hour, daily, weekly, monthly, etc.

OR is a dip having nothing to do with an area of resistance or support . . . but has to do with a price drop of 10%?  or placing a personal 'dip' price of correcting 5%, 10%, 15% or anything one assigns to it?

Hope I get some honest questions as to how some folks view buying on the dip; and if not successful at that, there is always the buying once a week on a set day regardless of price.  I suppose that's the HODL approach . . . which I do not intend to be stuck in front of my computer the rest of my life tying to gauge a market at least 50% controlled by folks or organizations that have a world of bitcoin to manipulate the market.    I just want to participate.