A familiar looking pattern

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
I'm not really big on the idea of any method or indicator that claims to predict the future. Usually, I see repeating patterns as nothing more than market psychology or coincidence.

That said, it's really interesting to see how the 2017 boom/bust pattern looks quite similar to the recent run-up and drop that we've seen, and in particular the drop to $8k and below.

So, what's at work here? Market psychology on display? Or bots coalescing to form a familiar trading pattern?
an interesting btc and rmb pattern:

Bull pennant.
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