$PYPL - Could be a reversal if FedNow is priced in

PYPL #PayPal is forming cup and handle inside a descending wedge. It tried 2 times to break through $70 resistance which is the neckline a prior support area. Breaking above $70 would be bullish. Breaking below $62 would be bearish.

Gap to be filled at $75. $75 will be a hard resistance to break through.

Breaking down below $59 would be really bad and it could potentially head to $47-$45 area.

Bullish Targets - $70, $75, $90
Downside risk - $60, $45

ER is on Aug 2nd which could co-inside with the trend line resistance area.

There is a threat of FedNow looming over both Paypal and $SQ. Also Buy Now Pay Later business side is under threats as more and more big players entering the space.

👀ing for now.