Perfect analysis, great expansion from your original post. As my latest argumentation would place me in the bear league, I think that depends on the timescale. Without any substantial news id actually be rather bearish, yet long term that's a different kind of a story...
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Thanks @conceptskip. I agree. For a sustainable bull run, I feel there needs to be some kind of catalyst to bring in new money. That might come in the form of major news, a massive short squeeze or prices dropping low enough to attract new buyers.
Sorry for the late response. I thought I had replied to this a couple days ago, but it clearly didn't go through.