allocating in 5 coins are good for reduce a risk. if you take 1-3 coins is too small, so i think 5 is good enough
but for this situation, i highly recomend that you'd take short term not long term
You can spread it actually to more coins but you should think also if you can manage them all before investing. We are quietly moving high right now and may it continue to grow high and see everything will be fine. It would be a lucky day for you if you invested will soar together with the market.