The Miners declined into a failed daily cycle low in mid-November that has the potential to also be the yearly cycle low.
Since printing the failed daily cycle low in November,, the Miners have been consolidating the sell-off. Which is somewhat similar to how the Miners formed their yearly cycle low last year.
Back in 2015 the Miners declined into a failed daily cycle low in mid-November, which looked potentially to be a yearly cycle low. And like this year, after printing the Mid-November daily cycle low in 2015 the Miners consolidated the sell-off.
If the bottoming process this year continues to resemble the 2015 bottoming process then the Miners may still print one more final lower low before emerging from its yearly cycle low.