The current animation is getting good. 
I personally think the character should have some more bounce to his step, like Kclic's edit. What you have right now looks rather robotic, which of course is arguable because the character is a robotic computer glitch personification, but you still want to put some kind of personality into your animation. The actual bounce itself is not a bad idea imo, it's just a matter of getting it to look natural. You might have to double some frames for that. (Although I'm not sure how many frames your game engine allows.)
Is that background even pixel art? I see an awful lot of colors for you to have done that pixel-by pixel. 
Perhaps you could enlighten me on your technique?
Well, I made him lean forward, which made it look a lot better.
And I wasn't sure if the head bob'd up too sharply, so I made another with less:
but it kinda looks like he has heavy boots...
First it was:
3-2-0-3 3-2-0-3
the second one has:
2-1-0-2 2-1-0-2
(this is reffering by how much the head jumps in pixels)
I dunno what im really talking about, maybe you guys can tell me which looks better/if i should shift anything.
