Please upload a photo if you are able. It will help us answer your question. I would guess that with only 5-6 pseudo-bulbs that you should not divide this plant. It really depends on where the new growth is happening. If it is on two sides, then you could probably divide and be okay, but I suspect that the growth is on one side and you should let the plant get much larger. The old pseudo-bulbs will not bloom again. They will eventually die off. They bloom one time and then support the new growth. As the plant ages, and it has more bulbs, then you will get more spikes and blooms. You will also be able to divide it then. If the orchid's new growth is growing out of the pot, it might just need to be repotted.
Do post a photo if you are able so we can give you the best advice.