Seasoned crypto trader Charlie (@btc_charlie) believes we are on the cusp of another parabolic crypto bull run. However, he cautions traders not to get overly euphoric and to have a prudent plan to manage risk and take profits.

Signs Point to Early Innings

Despite recent gains across altcoins, Charlie sees signs we are still in the early stages of a new bull cycle. He notes crypto total market caps and the US Dollar Index as macro indicators that remain relatively subdued. Additionally, Bitcoin has still outperformed most altcoins year-to-date.

Avoid Repeating Past Mistakes

Having traded through previous frenzied rallies in 2017 and 2021, Charlie warns of becoming overly emotional and failing to take profits on the way up – mistakes he himself has made. He suggests staggered take profit levels, using the example of taking partial profits at $3, $5, $10, $20, and $100 for a particular altcoin trade in 2021.

Entering Trades with Conviction

For traders not yet allocated to this nascent bull market, Charlie advises waiting for opportune pullbacks to enter, rather than fomo chasing. He also suggests identifying accumulation zones beforehand for coins you want to buy on dips.

Staying Nimble and Managing FOMO

Charlie notes that altcoin beta is high currently, enabling nimble traders to capitalize on rotations between strength. However, he cautions traders not to go “all in” just yet. If we do get an insane bull run, there will still be ample opportunities to profit from momentum.

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By balancing prudent risk management with conviction in trading the trends, Charlie believes traders can optimally ride what he expects to be an explosive new crypto bull market.

The post Top Crypto Trader Expects Another ‘Insane Bull Run’; Explains How to Milk It Better appeared first on CaptainAltcoin.

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