Hi Ikeyla,
Thank you so much for visiting the Disney Parks Moms Panel with your question. You are staying at one of my favorite Disney Vacation Club resorts,
Bay Lake Tower at Disney's Contemporary Resort. I love the sleek and modern theme at this resort, and the convenience of being able to walk to Magic Kingdom is wonderful.
Bay Lake Tower is located right next to the Contemporary Tower at
Disney's Contemporary Resort. While you will need to head over toward the Contemporary Tower to catch transportation around Walt Disney World, this is a very short walk. Bay Lake Tower is connected to the Contemporary Tower by the Skyway Bridge. This bridge is located just off of the fifth floor south elevator lobby of Bay Lake Tower, and takes you across to the fourth floor of the Contemporary Tower. This is where you will find the monorail stop. For other transportation around Walt Disney World such as the buses, you will need to head to the first floor of Bay Lake Tower and then outside to the bus stop which is again close to the Contemporary Tower, but is truly not too far from Bay Lake Tower. Even if you were in the room the furthest to the north and on the highest level of Bay Lake Tower, I think that these walks would be no more than 10 minutes.
I have stayed in a villa on the 5th floor of Bay Lake Tower at Disney's Contemporary Resort and have been able to see the nighttime fireworks from Magic Kingdom from this location. I do think that as you head to a higher floor, you will have a better view of the fireworks; however, you still should be able to see them from the 5th floor in your theme park view room.
I hope that these thoughts are helpful for you, Ikeyla! Please do let us know if you have any further questions.