Does the Bullish Engulfing work on Ethereum?

On Ethereum's daily chart, after a bullish engulfing Ethereum rose within 7 days 49% of the time across 136 past cases. On an ordinary day it did so 52% of the time.

No edge: a coin flipIndistinguishable from an ordinary day on this coin. Most patterns land here.
On EthereumNo edge
49% of 136 casesbaseline 52%
All coinsNo edge
45% of 14,571 casesbaseline 46%
Median move after the pattern -0.58% vs +0.32% from any bar; after a 0.2% round trip of fees -0.78%.

Daily chart

WithinEthereumOrdinary barCasesAll coinsVerdict
24 hours46% (38%–53%)51%17348% vs 48%No edge
30 days48% (36%–59%)53%6943% vs 42%No edge
7 days49% (40%–57%)52%13645% vs 46%No edge

4-hour chart

WithinEthereumOrdinary barCasesAll coinsVerdict
24 hours51% (47%–55%)52%62648% vs 49%No edge
7 days55% (49%–61%)53%24648% vs 48%No edge

1-hour chart

WithinEthereumOrdinary barCasesAll coinsVerdict
24 hours50% (46%–53%)51%82849% vs 50%No edge
4 hours50% (47%–52%)51%166248% vs 50%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 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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