Bitcoin is continuing in its downward path from annual highs however are the bulls beginning to take over again? Despite remaining in trend channel bitcoin appears to be in the process posting a higher high and a higher low and the possible formation of a bullish head and shoulders. The neckline of the head and shoulders would coincide with the upper boundary of the trend channel so if we see a break, it could see significant buying power. Our long term plan is to await a break and retest before long entries. Until then the chart appears very much indecisive.