Trying this for the first time.

MUC-LAX in 5 weeks showing J9C9D0Z0

Bid amount to business class shows $585 - $1850.

1. Since there is still lots of time, does it make sense to wait and see how the load on this flight evolves before I place my bid? Is there an advantage to bid earlier - unlikely that LH would accept any bids while they are still trying to sell seats actively, but this is my first time so I really do not know how this works. Does LH ever accept bids more than 72 hours before departure?
2. What would be a prudent bid?

Edit: Just read on the website "You can change or cancel your upgrade offer at any time up to 72 hours before your scheduled departure.. Until then, you can change or cancel your offer at any time and several times - free of charge, of course." So looks like that there is no harm in submitting the lowest possible bid for now and see how the load evolves? Thoughts?

Thanks.