Yeah man I love that image, it certainly matches up with the emotions we see in the crypto market. I just think the latter part of the image, where price never recovers beyond the high won't be accurate for solid cryptos that have a strong future, for shitcoins yes this image could be exactly what happens though!
BTC/USD has actually come strongly back into the expanding triangle I drew a few days ago (for now at least, 4hour candle hasn't closed inside yet) and so I think the recovery is in full flow now, will make a post to illustrate exactly what I mean.