from Google:Fibonacci retracements can be used to place entry...

from Google:
Fibonacci retracements can be used to place entry orders, determine stop-loss levels, or set price targets. For example, a trader may see a stock moving higher. After a move up, it retraces to the 61.8% level. Then, it starts to go up again.

We can see from the 5 years chart on the screen on the right that the price moved from 3.29c to 17.7c (100%)
100%-61.8%= 38.2%. The question is: what is the price would be at 38.2%

17.7 - 100%
X - 38.2%

X= (17.7 multiplied 38.2) divided by 100%= 6.76c this may be the bottom I hope.