Did monkey take into account that BTC has a frequently-occurring overshooting propensity? or did s/he/ it consider $483 to serve as such overshooting occurrence?
The monkey's estimate of the next significant level appears to be based entirely on recent historical levels. It is not a target so much as a likely resistance/support level, which can be easily surpassed during a major impulsive move. I personally would consider his level in light of the intensity of the move. So far it seems fairly intense and sustained. If it continues to be, then the monkey's "next" level is probably lower than the eventual near-term daily top. But again, that's my interpretation, not the monkey.
On a weekly basis, the monkey sees resistance at 583. However, it is very weak and very remote, and unlikely to be predictive (as both the monkey and I agree). He thinks it is likely to be early- or mid-February before a weekly local top and downturn, and expects that pause in the upward movement to be mild and brief, before the next uptrend starts.
