i don't think it is that much about the market being bullish but mostly about that particular price being a very strong bottom (a strong buy support at that level) that makes it impossible to break into. so even if we see a retrace, it won't go any lower than that level because of its strength.

your $5700 is a good estimate in my opinion although i would choose a slightly higher price at $6000 or even $6100 because i still believe that the bottom was at $6k and all the previous 3-4 months we were in a reverse bubble and prior to that this price level has been a very strong one which is now becoming strong again.