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Why support @7700 is so important?

A drop below 7000 opens the way to the 6000 and 5000...4000 area.
Bears are once again trying to overcome important support. This time at 7700.
Catatan
Here it is:
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Catatan
A move below 6000 will change wave count from ABC to 1-2-3-4-5. First leg downwards?
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Catatan
There is also the possibility to stay above 6000 :)
Supports @6600 and 6000. And third impulse down. Already happened?
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Catatan
The return to 7700 opens way to 8400:
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Nice bounce, but too early to celebrate. Bullish bias begins above 8500.
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