Meaning we could potentially decline to the $5,000s and still comfortably be a in a bull market.
It's all relative at the end of the day. If we fall to $5k then it's possible that what we have seen this year was a bull run within a multi year bear market. I would consider a revisit of $5k to be super bearish.
In that case I wouldn't even rule out a retest of the 2018 low of $3.1k. We have gone up too hard without building any support so don't be surprised if we go back down in a similar fashion.... a reverse bull run that is.
When the price goes down even those who bought higher will have a breaking point and dump their coins out of frustration.