The trend lines in black suggest a descending triangle formation. The red trend line is possibly a current support line, as it was a resistance line previously, a support line in 2016 (around September) and a past point of slight congestion (April 2018).
My attempt at a prediction is that it will rebound off of the support line and break out upwards from the descending triangle and confirm it as a chart pattern.
But, strategy wise, I would hold off from trading until a break out occurred as it's not certain as to whether it will rebound off the possible support and break out or drop in price further (or do anything else for that matter), so for that reason my strategy would be to wait for a breakout before considering trading.
My attempt at a prediction is that it will rebound off of the support line and break out upwards from the descending triangle and confirm it as a chart pattern.
But, strategy wise, I would hold off from trading until a break out occurred as it's not certain as to whether it will rebound off the possible support and break out or drop in price further (or do anything else for that matter), so for that reason my strategy would be to wait for a breakout before considering trading.