Full disclosure: This is my personal opinion. I'm not trading on it; nor am I trading at all. I hold a considerable amount of BTC.
Here we are at a deciding moment. A breakout up is very possible in the short term.
The critical price range to watch is $5.2-5.3.
1. Top of the earlier spike.
2. Depth is less steep after $5.2.
3. Mid-term downwards trendline is currently at $5.2-5.3.
4. .2's are crucial supports/resistances in the bitcoin market for some reason.
5. Long-term EMA (200) is at $5.3.
6. $5.2 would represent a decisive break from SMA(30) (the famous Nagle Line)... anything less might be a false alarm.
7. We simply haven't been above $5.2 for around 3 weeks. It's definitely a major psychological resistance level.
More generally, a move up at all at this point or in the next few days would be bullish, because it would confirm the upwards trendline since $3.87.
Now, it's time to wait.