To cover the losses if you bought expensive, only one option will save you, it's only to wait for the price again and only then sell!
That's why in this business strategy and patience are big factors. You must buy only in down trend market like this time now that's right strategy. Then next be patience hold the coins you buy until it reaches to your desired target. If the market still continue going down after you buy then strengthen your patience and wait for the market recovery. In this technique it helps a lot to cover up losses.