What you are looking at is Chinese mining monopolies trying to decide if they will artificially prop up the market so they don't have to turn off/dumpster a bunch of their ASICs, or if they will capitulate and launch the big short while simultaneouly dumping coins, turning off ASICs, and completely blowing up the market.  That sort of Chinese mining monopoly capitulation takes a longer amount of time than daytrader capitulation and obviously has not occurred yet.  

It might not occur at all and they may try and blow tons of cash trying to prop the market up, but it wouldn't really make sense for someone like Bitmain to do this IMO.  They have made billions of dollars from the market already and could just parlay that cash into silver or gold to make billions more, so why risk that much money trying to prop up BTC which is highly risky and not a sure thing when metals at cost of production while we're this close to a monetary reset is an asymmetric trade and free money?

If someone like Bitmain throws the kitchen sink at this market trying to prop it up, they will probably just get dumped on by swing traders en masse and it will be the road to ruin for them.  Not that I don't expect them to try.  It's only a question of how much money they burn before giving up.  10%? 20%? 50%?