Does the Bearish Engulfing work on Ethereum?

On Ethereum's daily chart, after a bearish engulfing Ethereum fell within 7 days 45% of the time across 121 past cases. On an ordinary day it did so 48% of the time.

No edge: a coin flipIndistinguishable from an ordinary day on this coin. Most patterns land here.
On EthereumNo edge
45% of 121 casesbaseline 48%
All coinsNo edge
55% of 15,763 casesbaseline 54%
Median move after the pattern -0.73% vs -0.32% from any bar; after a 0.2% round trip of fees -0.93%.

Daily chart

WithinEthereumOrdinary barCasesAll coinsVerdict
24 hours47% (40%–55%)49%15850% vs 51%No edge
30 days48% (37%–60%)47%6457% vs 58%No edge
7 days45% (36%–54%)48%12155% vs 54%No edge

4-hour chart

WithinEthereumOrdinary barCasesAll coinsVerdict
24 hours46% (42%–50%)48%65348% vs 50%No edge
7 days49% (43%–56%)47%25551% vs 51%No edge

1-hour chart

WithinEthereumOrdinary barCasesAll coinsVerdict
24 hours48% (45%–52%)49%85049% vs 50%No edge
4 hours47% (44%–49%)49%175147% vs 49%Leans opposite

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 Ethereum 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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