Apple Watch red lightning bolt displays and the time
The red lightning bolt displays and the time. I held the bar on the left side, and it shows the same only a red lightning bolt again.
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That is power reserve mode;
To turn off power reserve mode,press and hold the side button for about 10 seconds, until you see the watch restart and the Apple logo appear.
Keep in mind that if your battery is almost completely empty, you might need to charge the watch before it will restart normally.