PayPal $PYPL has been resilient in 2018 but still gave way to general equities market risk in September, peaking around $93.45. It has retreated to a low of $75 in October and been consolidating sideways since. However, with bearish momentum preserved, I think there is downside risk to $70.PYPL Daily Chart(click to enlarge)Crossing the Moving Averages:- Before 2018, price has been holding above the 200-day simple moving average (SMA), and mostly above the 100-day SMA, and even stretches where it held above the 50-day SMA.- Price has broken clearly below the 200-day SMA in September, reflect the start of a consolidation period.- so far this consolidation has been roughly between $75 and $90. - However, the fact that price continues to respect $90 as resistance while the RSI continues to hold under 60, suggests that there is bearish bias.- I think price has a strong likelihood of testing $75 again. And if price can get to $75, it will likely break lower towards the $70 area, which is in the middle of a critical support area going back to late-2017 and early-2018. This is also the 2018-low. - For now, because PYPL has been so resilient, I would limit the bearish outlook to this $70 area and anticipate support here.- If price breaks below $68, then PYPL would likely be in a major correction that could walk back most of the 2017 gains as well, with downside to the $50 psychological level, which was also a sticky price area back in mid-2017.