BTC is following a downward trending channel. It has formed a variety of patterns on it's descent and these have provided us with price targets on it's way down. So far as each one of these targets have been hit, immediately following a bounce and retracement has occurred, back up to it's over head resistance. This looks likely to repeat again, until the downward channel is broken. On reaching the most recent target, large volume on a big green candle occurred signaling a likely bounce and retracement back up to another over head resistance level as long as it can break above the low it made back on the 17th of January. Although a double bottom has just occurred which would be taken as a bullish sign, it may be read on a shorter term basis, as it has not yet broken either channels to signal a reversal is under way on a bigger scale and that the bottom is in, as of yet. The trend is still down and further lower price targets are likely to be hit, but this will be confirmed once a new pattern has been formed to signal it's next move, be that a continuation or a break out to the upside.