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"I'm not sure how low" , this is the problem with buying the dip. The confusion, the anxiety, the FOMO and all manner of unrest are what make me so uncomfortable with buying the dips. You could buy $42,000 and price drop further to $40,000 and further to $38,000 and even more. In this case, which is the real dip and when will it stop going down? This seem complicated for those of us trying to have a hang of this.
This is usually not a problem with buying the dips, from you perspective it seems difficult to dilute the whole concept but let's buttress; no matter the price fall of Bitcoin it's still an opportunity for you to accumulate more Bitcoin, If you bought the dips around 42k price and the continue falling to a 40k and then to 38k price it doesn't call for panic rather it's another opportunity to grab more bitcoin. instead of getting confused you should make use of all the dips whether a 40k dip or 38k dip you should buy more when it dips because sure the price will bounce back and when it does it now becomes a discount for you. instead of buying at a high price that's the essence of buying the dips. And this kind of issues are one of the major reasons why we are advised to aways be prepared for the two ways movement of the Bitcoin market, if it falls more because you're prepared you will seize the opportunity to buy more and when the price goes up you become more profitable.
From the concept of the thread which is buy the dip and hodl you should start understanding that the dips are not a problem rather an opportunity in the Bitcoin market.