Patience pays off

As you can see on the chart, the XNO price has broken through the lower edge of the blue wedge and is unsuccessfully trying to get back above it. I think we're in for another sizable drop to around ~$0.7 but that's no reason to panic. I also drew a white falling wedge on the chart. If I'm not mistaken, these will be the last dips after which the price should go up. I see it like this:

• first a W pattern will be formed, which will at the same time draw an exit from the white wedge (by retesting it)
  
• then the price will return to the blue wedge piercing it on the way out
  
• on the way there is a big retest of the blue wedge
  
• and finally the rebound from it and the rise of the price to the area of 7 USD (if you look closely the whole movement will form an inverted Head and Shoulders pattern).
  

This is not financial advice.