Are they just support and resistance zones or is there more to it
Liquidity zones can appear as s/r zones where institutional orders are stacking to be filled.
These zones often appear around significant numbers, pivots points and fibs. Institutions like round numbers. Often you get good breakouts (or fakeouts) from these consolidation zones.
I personally don’t think there is any witchcraft attached to fibs, they are just self fulfilling prophesies.