1) BTC appears to be forming a lower right shoulder. 2) Notice the bearish divergence with the RSI. 3) Very few buyers according to the blue histogram.
BTC needs to retest the $7,500 level, expect Alt Coins to follow down as well.
BTC just gave us a big red candle which appears to have completed the right shoulder pattern. If we start to go into the $7,800 range expect a mass sell off and retrace to $7,500. Be very careful with any alt coins you are in as they will also retrace when BTC drops back down.