Have a look at the BTC price in the timeframe between mid december and end January .  Now compare that to the "big picture" chart.
Not that I am trading expert - far from it - but for me personally this makes sense.

This is how I see it, without taking into account any specific news but only the chart and the price (what naturally reflects people global reactions to the news)


My guess: Rise to about 600-700$.
Then after that there are 2 ways out. Either we break 720$ mark and it goes up further. Or we miss it and we will quickly fall below 300$ again.