Bitcoin Cash technical analysis:  BCH/USD bulls have the room to run further north

• Bitcoin Cash price is trading in the green, up with gains of 2.80% the session on Wednesday.
• BCH/USD bulls managed to break free from a narrowing range block formation, leaving room for greater upside.    
• The price is trading at the highest levels seen in over two weeks, as the momentum swing back into the bulls favour.  

BCH/USD daily chart

The next major area of interest for the bulls will likely be the pychological  $300 price territory, given the recent breakout.  

BCH/USD 60-minute chart

There is near-term supply seen via the 60-minute chart at $240 capping upside for now.  

Spot rate:                   238.74

Relative change:       +2.80%

High:                          241.94

Low:                           228.27