As Jim Young stated... and a bit more...
1. The bleeder should be CENTERED in the access hole... If it isn't, then the radiator is installed wrong. Needs to be dropped and reinstalled as cooling will be impacted negatively if it isn't.
2. I've owned two 79's and after 30+ years of them NOT being opened, I wouldn't attempt it. If they break or fail to seal again afterwords, yur in deep poo-poo.
3. I recommend installing a FLUSH TEE in the upper heater hose near the cam belt cover and then use hose pressure to purge the water through the radiator and up and out the reservoir tank. There is USUALLY a junction fitting that the factory used to connect the engine and hose to the pre-plumbed hose into the firewall to the heater. Just remove it and install the Tee.
This method has worked for me on several cars over the years, cost about 3 - 5 bucks and found at WalMart and others...
Hope this helps.