Flashing blue red white light pattern of diamond. Hovering low. Very slow. No significant distance in 2 min observing. Vanished

Before sunrise I saw what I thought at first sight ro be a plane. It did not move like a plane. Its lights flashed unlike a plane. No sound. Then I thought maybe it was a drone. I have seen drones. Didnt look like that either. This was way bigger and a different shape. If I could use the light pattern as a guide for the shape, it would remsemble a diamond or a rhombus. It seemed to hover over the southwest horizon heading north. Then as I looked on with confusion, I did notice it was moving but very very slowly. So much so that it didnt make any significant distance for the 2 minutes I was looking at it. Then, I cannot explain, it just vanished. I thought I had mistaken. So I searched the sky north and south and any other possible location. There was nothing to be seen. It VANISHED.