[TADW_Elessar]

FIBA 38.3.1 says:
"A technical foul is a player non-contact foul of a behavioural nature including [...] baiting an opponent or obstructing his vision by waving his hands near his eyes."

But except some extreme cases (hands within an inch from the opponent's face, with the defender only trying to get on his nerves...), the play you described is considered legal (or it is no-called). And, even in those extreme cases, a warning is the best thing.