Does the Bearish Engulfing work on Cardano?

On Cardano's daily chart, after a bearish engulfing Cardano fell within 7 days 50% of the time across 131 past cases. On an ordinary day it did so 53% of the time.

No edge: a coin flipIndistinguishable from an ordinary day on this coin. Most patterns land here.
On CardanoNo edge
50% of 131 casesbaseline 53%
All coinsNo edge
55% of 15,763 casesbaseline 54%
Median move after the pattern +0.29% vs +0.70% from any bar; after a 0.2% round trip of fees +0.09%.

Daily chart

WithinCardanoOrdinary barCasesAll coinsVerdict
24 hours46% (38%–54%)51%16150% vs 51%No edge
30 days57% (46%–68%)55%6857% vs 58%No edge
7 days50% (42%–59%)53%13155% vs 54%No edge

4-hour chart

WithinCardanoOrdinary barCasesAll coinsVerdict
24 hours50% (46%–54%)51%70248% vs 50%No edge
7 days52% (46%–58%)52%26651% vs 51%No edge

1-hour chart

WithinCardanoOrdinary barCasesAll coinsVerdict
24 hours54% (51%–57%)52%85449% vs 50%No edge
4 hours51% (48%–53%)50%177847% vs 49%No edge

How this is measured: each occurrence is counted from the bar where the pattern became knowable, overlapping cases are dropped, and the result is compared with how often Cardano moved the same way from any random bar over the same window. A pattern only earns "beat the baseline" when the difference is larger than luck explains across all the tests we run. Full method.

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