How do you take profit with ATR?

Could you elaborate on how investors can effectively take profit utilizing the Average True Range (ATR) indicator in cryptocurrency and financial markets? Specifically, I'm interested in understanding strategies that involve identifying potential entry and exit points, as well as gauging market volatility to optimize trading decisions. Additionally, could you provide some examples or case studies where ATR has been successfully implemented in profit-taking scenarios? Your insights would be invaluable for traders looking to enhance their profit-making abilities.