Indeed.  Just look through the old threads...

'$25! We've corrected, time to buy again'

'$20! Correction was a bit harsher, hackers are out of the way, time to buy'

'$15! We've reached a new plateau of stability'

'$10! It can't go much lower than here.  I am feasting on the chumps selling out'

'$5! It costs far more to mine a bitcoin than this price.  This is the floor'

The alternative version is:

1. Price falls, reaches new resistance level
2. Bitcoin forum user buys a quantity of bitcoins
3. Said user yells 'BUY! BUY!'
4. Price continues to fall