The bolt is in between the two halves of the lower control arm, head facing down toward the road. I've never measured by turns, just turned it to where I was happy with the ride height. Here's a "lying on your back" view of an E-body, with the bolt in the red circle:
View attachment 1716297102
There are limitations; you can turn it far enough in either direction that you won't be able to correctly align the car (backed off fully, you're on the snubbers and the torsion bars do nothing). In other words, slamming it into the weeds or raising it to the Fuel Altered/Gasser look might not work out so well.