Whether it's moving averages, Fibonacci retracement percentages, or lines generated by other indicators, none can solely represent support and resistance.

Because the market is unaware of these lines and does not care how you draw them.

The market does not care about your thoughts, your system, how many indicators you have, and so on.

What truly acts as support and resistance is trading volume.

Because trading volume represents the amount of capital flowing in and out of the market, and the size of the volume reflects the confidence of the participants.

——— Wyckoff on Support and Resistance