If you've been experiencing bugs, lags, battery draining, or other issues , clearing cache partition could help you resolve most of them. In my case, it was a battery draining issue. Instead of writing how to do it, here is a video that is easy to follow: https://youtu.be/3mvRvEsAPpE
I experienced a battery draining issue on this beta 1 and a little laggy while swiping. A simple restart usually fixes them but not this time. My Watch lost ~30% in 9 hours which is insane considering it was just sitting on the desk, not connected to phone or wifi, on battery saving mode. After wiping cache partition on the Watch, it loses ~10% in 12 hours with the same settings (nearly the same rate before the beta) and swiping seems to be smoother.
