Bitcoin can't make it past its high before the recent drop. At same time, eth will form a double bottom. since btc is very likely fail to get past 424.xx, it will drop below ~410 and therefore ETH seems a good hedge for now.
SL on both trades, can be placed above 424.xx (high before drop) and on the eth side slightly below 0.020. Good entry positions with good tight SL.
and the ETH chart for completion