Without pain, without sacrifice we would have nothing. Honestly, you should definetely play as many tournaments as possible. Don´t worry about your rating points, when you don´t risk to lose some you will never gain any. I would just do a lot of preparation for your next big tournament. First of all you go through your opening repertoire. You check out all the main lines you play, remember the most important theory lines and play through Grandmaster games in order to understand the typical plans in every opening you play. The first step for you to improve should be to get a playable position against every opponent and even win some games just because of your opening knowledge. When you know the names of your opponents before the round starts you should also research them in your database and check what they play against your openings. This will give you new stuff to prepare. The opening repertoire is the most important thing for you at the moment, but you should also do tactics every day and analyse your and strong players games. I woudnt play any more blitz or bullet games until you finish the work on your opening repertoire. Afterwards you can play a lot of 5 min games in order to see where you still lack some opening knowledge.
Ah, and from my own experience I can say you improve just by playing a lot of tournaments if(!) you also practise things I mentioned above.
Good luck!
On the other hand, playing in tournaments may be a big waste of time. If a person hadn't studied theory as thoroughly as possible, chances are that he/she will not learn much in OTB games in tourneys. I've seen many players who didn't do the work but went on to play in tourneys only to stay lifetime 16,17,1800 players.
I'd go even further. Even with lots of training, it's really hard to improve at chess. Therefore, one has to be truly dedicated. It may be hard to hear this but there's a reason why most people don't really improve at chess. Those who do and achieve the master level are but a tiny minority of those who tried.