$32 was "the new paradigm", $2 was "dispair", $5 was return to the mean. We are now seeing a repeat of the same pattern.
You conveniently ignore the fact that on this chart above "despair" is quite below "first sell off", while on the real chart we never went below "first sellof" which was at $1.1 - so no, not even remotely similar, unless you want to see things which aren't there.