if bitcoin retraces now soon what will happen to alts? will they fall with it or will they rise how will it play out?
That depends on the market. if bitcoin price is falling during a bear market, of course, the altcoins market will follow. But when there is an active bull run in the market, if bitcoin price falls the altcoins price will grow. Sometimes there is a market shift between bitcoins and altcoins more especially during a bull market.
I think market will definitely not going to have bull run when bitcoin price fall because bitcoin dominate more than 60% of market caps, and when bitcoin price fall means more than 60% people on the market are struggling with bitcoin and other alts will fall. When bitcoin's market price is in sideway position just like lately, that's when the altcoins price rising