Perhaps my first UFO sighting?

Hi guys,

Went to the lookout a couple hours ago just to relax and look at the stars. While looking up at the perfectly clear night sky, a small flash caught my attention from the corner of my eyes. Spotted a relatively fast moving object, blinking/flashing every second or so. First impression just a plane, but became conscious of it's unusually bright flash -- which I quickly noticed began getting dimmer each time, until eventually the flashing stopped after a few seconds and all that remained to be seen was a very dim object moving at the same speed and trajectory.

If I hadn't seen the flashing I'd think it was just a satellite, in which I see quite often. So just curious to know if this description can be identified as anything other than an UFO.

Cheers,

Navieko