Selected Climbs list the ledge at the top of 5 as a bivy spot. Have slept on this ledge, I would not recommend it at all! It is actually two small ledges: one is roughly 4 square feet and the other is maybe 18 inches wide and 5 feet long so one partner gets to sleep upright all night while the other repeats the matra “don’t roll over” in ones sleep. Both are removed from the belay anchor so one has to run a long loop from the anchor or use some existing pins.
Rapping down to I believe what people are calling triangle ledge is also an option. Assuming you run 6 and 7 together (recommended), ¾ of the way through pitch 8 you will see two rusty coffin nails (quarter inchers) to the left. One could rap off these, but if you continue through pitch 9 and into the start of pitch 9 (easily accomplished with 60 meter rope), you can use the first tree you reach as a belay anchor/rap point. It will land you directly on the ledge and the tree is way more bomber to leave a line fixed to (with ample number 2 and 3 camalot placements next to the tree) than the coffin nails. I slept on this ledge years ago and found two aliens and a nut someone had dropped off the route above. Roomy (monstrous if compared to the one at the top of 5) in size. A good spot if you are in search of a fun wall bivy.
With that said, I would recommend you just avoid bivying all together. Chances are if you plan on bivying, you will haul and hauling especially on the upper pitches sucks! Even if you get the pig through all the brush and trees that litter pitches 9 and 10 without getting it stuck, some will need to hump throught the 4th class section to the top. Suck. If you insist on hauling, don’t let the second jug above the pig or plan on rapping back down to free it numerous times.
After climbing this route a few times, I think a good strategy for climbing it in a day is as follows:
Day 1: Fix pitches 1 through 3 with two sixty-meter ropes. One can actually fix the first 4 pitches with two sixties and 4-6 aiders (manufactor dependent) chained together at the bottom of the second rope. This will allow (assuming on can lead 5.9 trad) one to leave all aid gear except for 1 pair of aiders for the one aid move at the start of pitch 8. Sleep at car.
Day 2: Blast to the top. Assuming you fixed 1-3, you just have 7 pitches and some 4th between you and the top. If you are unsure you can climb that many pitches in a day, practice climbing Orbit and Outer Space comfortably in a half day.
Other tips: Don’t park your car at the corner; the staters will tow you. Cam hooks will make the roof pitch a walk.
Speaking of good bivy spots, the M&M ledge on Thin Red is thee best on all of Liberty Bell. The best bivy ledge I have ever slept on is the one 2/3 the way up North Norwegian Butt on Index. I think it had something to do with the fact I knew the aid was over.