Really interesting account - the tree line detail is what stands out to me. Objects observed against a fixed reference point like that are generally much harder to misidentify than something spotted against open sky, because your brain has something to anchor the relative position and movement to.
A few things worth documenting if you haven't already:
Exact time and duration - even a rough estimate matters, Cardinal direction you were facing, Any sound, or notable absence of sound, Behaviour - was the hover completely stationary or was there any drift/oscillation?
I've been casually logging unusual sightings in the Newcastle area for about eighteen months now using a basic setup - nothing fancy, just a Flir One thermal attachment on my phone and a cheap Bresser night vision monocular. The thermal in particular has changed how I approach these things because conventional light sources behave very differently to something reflecting or radiating heat unexpectedly.
The reason I mention it is that hovering objects over tree lines are one of the more common reports I see on here, and they split pretty cleanly into two categories once you start gathering proper data - conventional explanations (drones, distant aircraft on approach paths, certain atmospheric light refraction conditions) and the genuinely ambiguous cases that don't resolve neatly.
Your account reads like the second category to me, but I'd want more detail before drawing any conclusions.
Would you say the object appeared to have a defined shape, or was it more of an indistinct light source? That distinction tends to be the first useful fork in the road when trying to classify something like this.