Remember, my wave targets and channels are estimate target levels and are based on Fibonacci and Principles. They are subject to possible adjustments. Timeframe was not taken into consideration when projecting targets.
DISCLAIMER: THIS IS NOT PROFESSIONAL ADVICE BUT MY PERSONAL REFLECTION OF THE MARKET.
You are correct its a wedge but wedges like this are typically reversal patterns (know as ending diagonals).
This can fail but typically under the elliot wave principle its a reversal pattern.
Google 'ending diagonal' and look at the images for ending diagonal in a bear market
You should read the elliot wave principle by Frost and Prechter.