If you look at the chart of the Bitcoin price, it has formed a clear descending triangle with support at about $6000. Resistance is keeping the peak of each bullish run lower than the previous one for the past few months. If I can find a good chart to post, I'll add it in later.
I believe that this is a bearish signal that the price could likely break below $6000 soon.
Do you agree and if so, when do you think it will drop below that key support level?
I agree. Even though $6k has been upheld as support for the majority of this time that we've spent in the bear market, it's hard to say for sure that it's going to continue to be that way in the medium term future.
For me I'm looking at a potential breach of the $6k support by the end of the year. It's not guaranteed, but if it was to happen, it would be in the next few months.
You really can't be more specific than that. All we know at the moment is that prices are very near bottoming and recovery is probably going to go underway some time mid to late last year given the last bear market's trends.