Case in point here is the NAVCoin. See this chart here:
http://imgur.com/a/YSudp
Now, I understand the basics of the crypto trading and you buy when the price drops, and sell when it rises up (or hold - depending on your end game)
I saw NavCoin at 60 cents yesterday, and as it was still climbing at the time, had a upward trend, I held off. But now, the price has doubled by this afternoon to $1.20
1) So at what point do - you decide that "ok , $1 is a good price, or $1.2". - How do I know what the "peak" might be. For all I know $1.20 IS the peak or it could possibly keep climbing (like Litecoin) and reach $10?
2) After seeing the chart, at what point should I have decided to "buy" or is that moment, right now, when it's sitting at $1.20.
I am new to this, so it might be a stupid question. -so excuse me for that
Any help would be appreciated.
EDIT: and while I typed this, it climbed up to $1.34!