There are n channels: channel 0 is seen in top of other, channel with major number is seen in top of others.
Edit strip → Blend → Over Drop Edit strip → Image Offest → X,Y
Select strip and Add → Effect strip → Transform
Add proxy and timecode “Record Run” for every strip to have faster video preview.
Make strip overlapping in two channels. Select first strip, hold shift and select second. Then Add → Effect strip → gamma cross
enable proxy mode clicking on “Build Proxy / Timecode”
close video and reopen proxied version (in same folder as original)