All supposed behaviour of masses inside demand/supply areas based on signifincant support/resistancetrendlines with time fibs. This chart can be used to compare with your targets.
If the price gets closer to reddish orange zone, it'll still face quite significant resistance. However, if the price stabilizes around purple area at 0.618 level and then breaks above red downtrend line getting into greenish zone of general demand levels - I'd long.
@mattgetsbarreled, The more it drops the more I’ll buy in order to exclude missing the cheap stage of bitcoin. At this point of time I’d do partial accumulation periodically, hence I’ll have significant amount of fiat left to cover the risk of losing because of supposed further decline. Therefore, I will not miss the chance to benefit in terms of long-term trade.