Since this is a low level account, based on the explanation I gave earlier (and my own experience with two of these) you should be able to boost your tree up to level 7-8 in a day or two of newspaper scouring. That should give you a few blossoms from goals and set you up to reap a decent number from the tree. You probably won't be able to get Bambi, but if you're dedicated enough to collect every 3 hours from the tree, and using your flax sales money to buy floating lanterns, then you should be able to get the first and second individual prize, and qualify for the community prizes. It will be hard work for a day or two, but I think you can get some prizes and this event does have very nice prizes even for the early ones (bonsai sakura is so easy to get but so cute! and the community prize pond is gorgeous and animated)
If you're willing to spend gems on paper lanterns, you obviously will get further. More and more people are completing their trees and putting parts out so it may even be possible to upgrade your blossom tree to a high level. Although the benefits are diminishing with the time left, it does make for a very nice looking decoration.
Good luck!