If you count waves from the December top, you can see that five waves have been completed: one down, one up, another down, one up, and finally, one down. Also, it may help to look at one of Haejin's analyses where he shows how the strength of the seller population has been going down in stages. It seems that we're in a phase where the correction from the December top is finally over.

Whether or not we will be going up depends on market sentiment and fundamentals. My personal view is that as we have entered the second quarter, a bullish momentum will prevail for some time now. A long-term support has withstood multiple attempts at breaking it by the bears and there have been rumors circulating that Soros has authorized one of the subsidiaries of is company to trade in cryptocurrencies. Also, the lightning network is coming along slowly but surely. The FUD campaign in mainstream media seems to have died down. There has already been a breakout in BTC, ETH, altcoins in general and also STEEM. If I had cash, it would be time for buying action. Too had I have no cash. :) I eschewed selling too much of my portfolio in December because I was loath to pay taxes. In retrospect, I should've. A parabolic rise like that of December will always be followed by a sharp correction.