For educational purpose, we take vivocom as an example, its upper level is marked at 1.09 and lower level is marked at 0.69 so the middle line or the Fibonacci 50% is 0.89 (1.09+0.69 /2). After the bear pushed below the middle line with heavy and it started to hesitate and that is the most interesting part to watch. Will the bull fight back? We don't know but the price action will tell and time will tell.
Fibonacci is not a magical tool that has the supernatural power to predict the future price. It is actually a hidden natural universal formula to explain the evolution of natural pattern. The physical universe is a function of space and time and the planetary movement is a reaction of these spacetime. Everything in this world must follow a predictable natural cycle.
Instead of using Fibonacci as a tool to predict the future price it will be more productive if we see it as a tool or formula to explain the natural movement of a moving object such as stock prices as noting in this world is in random walk.
Everything in this world must be created with specific purpose in predictable cyclical patterns just like moon and sun are created with the predictable path and the whole natural cycle will repeat again and gain. They will change only when time changed or space changed but they will self balanced to remain the same forever. The Yin will create Yang and Yang will create Yin. One cannot exist without the existence of the other.