On the Logarithmic Scaled monthly chart below, even with today’s carnage I would still wait for a test of the major $69/$70 level on FFIV before trying a hero knife-catch. Price has memory. And you want a more discernible edge in your corner when trying such an audacious play like buying the blood, rather than declaring that a random price is the bottom.
At least with the level I have outlined you can manage your stop-loss well and have peace of mind you are playing the defense of a significant price area dating back over a decade (light blue line, below).
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