No. One just needs to look at the market and gauge the possibilities, and then make a movement that fits with the look of the market. Or pile on to others doing so. A wave starts with a single droplet.

Lets say due to some trading signal, it looks like it might go down. It also might not. Until you pile on a few hundred thousand in sales, and follow it down farther and farther.

Without extreme counter pressure, with crypto, it doesn't take much.

It's even known to happen with stocks. The recent incident with the hedge funds was entirely created by them, and then retail investors created the movement upward, which still followed standard trading movements...more or less.