The Blazers would have to virtually win out to have a remote shot at the 5th seed, and I just don't see it happening.
After the clutch win against OKC, I am more optimistic that the Blazers can manage the 6th or 7th spot (and thus avoid the Lakers in the first round, since they're all but guaranteed to overtake the tailspin Spurs at this point).
But, I see lots of very lose-able games in Portland's future:
The Mavericks will bring their "A" game against Portland, knowing the Blazers are a likely first round opponent.
Two games against Golden State - and the Warriors are an unpredictable team that can easily catch fire from the field and outscore teams. Portland should win both, but I have a sinking feeling one will be an L.
At Utah? I know the Jazz are on a downward slide, but Salt Lake is a rough place to play.
The next two home games could be brutal - the Grizzlies and Lakers are two of the hottest teams in the NBA right now, and if they're still fighting for playoff position come the last week of the season, these two games will be really tough.
I'd like to think the Blazers can hold homecourt against all those opponents and win at Golden State and Utah, but I don't see Portland making up much ground, unless teams start playing worse than they've been playing.