Is DCA an effective investment strategy?

Hello! I'm 17 and have done my own research into investing in Bitcoin. My question is: Does DCA really work well, or should I consider stopping purchases during market peaks or when indicators like the Fear and Greed Index is high? I find it odd to buy at the top when there's a lot of excitement. I understand that timing the market is very difficult, but I'm curious if there are rare instances when on-chain data and other indicators provide insights suggesting it's not a good time to buy.