How to create rising tension through classic coverage.
This scene from The Matrix (1999) builds tension with increasingly tighter shot / reverse shots, and peaks with an insert shot of the red and blue pills:
The scene is constructed on the 180 degree rule of dialogue coverage:

Throughout the scene, Morpheus and Neo remain on the left and right side of the screen respectively:



Cutting between the two angles (shot / reverse shot) creates a subconscious effect in the viewer’s mind where, were the two to be overlaid, the two characters would appear to be facing eachother:

The tension begins to rise when Morpheus crosses over into Neo’s half of the frame:


The subliminal effect here is that Morpheus is getting inside Neo’s head:

Morpheus offers Neo the choice – and as the camera tightens on his face, Morpheus grows to take up both halves of the frame, while Neo remains small – the hugeness of the world Morpheus represents, and Neo’s tiny (for now) place in it:


The choice is presented in the form of an insert shot. Even the red and blue pulls live in the same half of the frame as each character. The red pill and Morpheus both represent the real world; the blue pill and Neo represent the Matrix:


The choice presented to Neo changes everything – including the camera angle. Now the shot / reverse shot is over-the-shoulder (or more aptly, past-the-hip, like a standoff between two gunslingers in a Western). Morpheus is no longer dominating the frame, as he allows ‘space’ for Neo to make the choice for himself. The 180 line is still strictly adhered to – Morpheus frame left, Neo frame right – and once again, the subliminal effect is that they are facing eachother:



And if you look closely, Neo’s choice, the hand reaching for the red pill, is reflected only in the left side of the frame – the side of Morpheus, of the real world:

Further Viewing
A look at other classic scenes which utilise the 180 Rule:
More on how the insert shot is often used at the peak of the dramatic arc in a dialogue scene: