[proof below] Many sellers at 4 refs.

Sellers

http://www.tf2outpost.com/trade/14095510 (4 refs)

http://www.tf2outpost.com/trade/14193738 (4 refs)

http://www.tf2outpost.com/trade/14115167 (4 refs)

http://www.tf2outpost.com/trade/14185695 (4 refs)

http://www.tf2outpost.com/trade/14247914 (4 refs)

http://www.tf2outpost.com/trade/14123835 (4.66 ref)

Unsolds @ 5 refs

http://www.tf2outpost.com/trade/14133717 (5 days)

http://www.tf2outpost.com/trade/14134961 (5 days)

http://www.tf2outpost.com/trade/14073986 (1 week)

http://www.tf2outpost.com/trade/13967028 (1 week)

http://www.tf2outpost.com/trade/13924836 (1 week)

http://www.tf2outpost.com/trade/14067315 (1 week)

http://www.tf2outpost.com/trade/13945839 (1 week)

http://www.tf2outpost.com/trade/14083216 (6 days)

http://www.tf2outpost.com/trade/14137179 (4 days)

http://www.tf2outpost.com/trade/14150924 (4 days)

http://www.tf2outpost.com/trade/14093776 (6 days)

http://www.tf2outpost.com/trade/14099614 (6 days)

http://www.tf2outpost.com/trade/13830506 (2 weeks)

http://www.tf2outpost.com/trade/13775834 (2 weeks)

http://www.tf2outpost.com/trade/14187398 (2 days)

http://www.tf2outpost.com/trade/14194931 (2 days)

Many sellers at refs while 5 ref sellers are unsold for ages. Think a conservative bump down is in order.