First of all, we are still way below the (red) Ichimoku cloud. That means we are still in bearish territory. It could still go up or down, but the overall bearish trend is there.

The necessary condition for a bullish run is

1. a TK cross (blue line above the red line), which is not about to happen,
2. the price to go above the cloud, which is also not happening any time soon.

In addition, the cloud is becoming thicker, which could mean sideway action for longer periods of time.