24 hour high does not tell us anything...
Yes it does: The
24 hour high tells us the max value in the last 24 hours.
Trading has short, medium, and long-term time frames. The 24 hour high can tell us a lot about short to medium-term direction, and even better...
People who question (or laugh at) technical analysis have a point, the result of "chart reading" can be terrible. The all-time #1 trading tip, imo, is:
False technical signals can sometimes/often lead to huge moves in the opposite direction, since 'the market' is caught by surprise, even many traders who frequently make money.