This is the right strategy. There was a support at $7,500 and luckily it did bounce back. No early celebration though. But for newbies who just got into this world, basic rule: buy when most people sell, sell when most people buy. Selling at $12,000 (if it goes back there) is the smart thing to do (just my opinion, not an advice).
PS: I do think the road to go back to $15,000 will be long and painful.