Does the Three Black Crows work on Bitcoin?

On Bitcoin's daily chart, after a three black crows Bitcoin fell within 7 days 53% of the time across 59 past cases. On an ordinary day it did so 47% of the time.

No edge: a coin flipIndistinguishable from an ordinary day on this coin. Most patterns land here.
On BitcoinNo edge
53% of 59 casesbaseline 47%
All coinsNo edge
50% of 8,345 casesbaseline 54%
Median move after the pattern +0.79% vs -0.50% from any bar; after a 0.2% round trip of fees +0.59%.

Daily chart

WithinBitcoinOrdinary barCasesAll coinsVerdict
24 hours38% (28%–49%)49%7741% vs 51%No edge
30 days56% (41%–70%)45%4356% vs 58%No edge
7 days53% (40%–65%)47%5950% vs 54%No edge

4-hour chart

WithinBitcoinOrdinary barCasesAll coinsVerdict
24 hours43% (37%–50%)48%22947% vs 50%No edge
7 days43% (35%–51%)46%15452% vs 52%No edge

1-hour chart

WithinBitcoinOrdinary barCasesAll coinsVerdict
24 hours45% (41%–50%)48%47948% vs 50%No edge
4 hours45% (42%–49%)49%66545% 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 Bitcoin 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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