Years ago, in pennystocks, I came across the same situation.. I would find "computer sells", thats what I called them back then, on illiquid stocks.. I would gobble them up as soon as the computer selling algo was finished and it worked brilliantly.. My understanding is that at times a broker will need to offload a huge amount of some stock and so as not to drop the market, he will have a computer sell in small equal amounts every minute or two, hitting the bid.. I loved finding these trades, because it was easy money for me. It clearly identified a drop being created by one person, and that never stays down.. One person cannot decide market price... Anyway, I'm not sure if that is what you have stumbled on in crypto, I would have to see it for myself, and it would have to be on a low volume coin, where one player could actual affect the price..
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I have seen a lot of those recently on BAS/ETH in HitBTC, but they were on both sides. I have also seen what appears to be a person trying to block movement up and sometimes down by placing an obscenely large order (about 10 to 30 times the other large orders). It has the effect of causing people to not even get close to those orders and when people get used to them being there, or if someone actually does start nibbling on them, they move further away from the current position or are taken out completely. If one disappears, it tends to cause movement in that direction, but I have also seen them cycle in and out. I suspect a rookie market maker or something. Have you seen this? If so what do you make of it? the bottom one just dissipated on BAS.
Sorry for the delay... I've been having trouble with my Bittrex acct. Thanks for the reply! If I get a little more savvy, I will take a screenshot and show you what I mean