If and only if you have already made up your mind to invest in BTC in general, I’d say a good time is now. Or more precisely it was a few days ago. But, I don’t expect a rapid rise of a factor like 10, doubling should work though. In my opinion, BTC is still rather young and we will see yet higher prices in 2018. Recent news have also been on the positive side:
But there might still be some FUD (Fear, Uncertainty, Doubt) coming along that ruins the price. As others have pointed out, the value of BTC is determined by the market alone.
As another aspect of good news: Coinbase (gdax) will implement Segwit which should dramatically speed up transaction time and reduce BTC’s overall backlog.
Concerning Altcoins: These coins are fueled by BTC, since in many cases you need BTC to buy most of them in the first place. (Although it is possible to buy them with ETH as well). However, many rise/fall faster than BTC, which is why many traders compare Altcoin prices to their BTC (satoshi) level and not to their dollar value. (Also, the technical analysis happens on the satoshi level). But be careful when buying small cap coins, they might be a pump and dump and you could lose your money rather quickly.
As an exchange to start with, I’d use Coinbase (gdax). If you want your coins to be perfectly secure put them in cold storage or transfer them to your own wallet. (Wait for the segwit implementation though, due to lower fees).
Even though we all love technical analysis, keep in mind that this analysis is oblivious towards news and is based on the assumption that the price can be predicted by the past behaviour of a certain asset. E.g. it is a nice feature, but do not rely 100% on it.
As a final note: Do yourself a favour and read BTC’s whitepaper. It is not that long, it is interesting and you should know what you are putting your money in. (5$ might not be much, but I am unaware of your financial situation).
Full disclosure: I bought BTC at 12k, 8k and 7k and I intend to hold it or trade it for some altcoin later on. I might have lost some money on the first buy, but I expect to profit in the end.