On the 1 hour chart, we can see that we have a divergence with the MACD right at the key resistance. This is generally a sign of weakening momentum often followed by pullbacks or reversals. In this case, from a risk management perspective, the buyers would be better off to wait for a pullback into the trendline before opening new longs. The last line of defence for the buyers should be around the broken downward trendline and the 61.8% Fibonacci retracement level.