On the 1 hour chart, we can see that the price pulled back into the upward trendline where we can also find the confluence of the previous swing high level, the 61.8% Fibonacci retracement level and the 4-hour 21 moving average. This is where the buyers will likely step in again with a defined risk below the trendline to position for new highs. The sellers, on the other hand, will want to see the price breaking lower to position for a drop back into the 40000 support.