You forget the chinese withdrawals that start tomorrow. When the chinese people see that the price is dropping they always panic and sell. So this means that wee can expect a drop tommorrow, and when ETF is not approved, what is likely to happen, will cause in an another drop. We are going to test 950 usd
Chinese are already trading on other places, such as localbitcoins and other exchanges in the world, they haven't just stayed out sleeping in their home waiting around for their exchanges to open or not!
and when Chinese exchanges open tomorrow (if that is the date) Chinese will start buying the dip as they always do to catch up to the rest of the world and catch up with their cheap coin accumulation.
Chinese aren't dumb. They didn't put all their coins in one basket being their exchanges.
They diversified and placed more on other exchanges and sites like localbitcoins and paxful for constant trading.
What do you think the largest population of mined coins had in mind as a contingency plan if all went tits up on their own China exchanges. Do you think they trust their government with their moneys or bitcoins security? You must be dreaming.