So if I want a virtual encrypted hard drive on my Windows 7 or 8 machine (i.e. an encrytped file that can be mounted like a hard drive) generally I would have used TrueCrypt for that. However it seems that TrueCrypt is being discountinued/abandoned, so: Are there any other decent alternatives?
Lets assume I don't want to use the built in Bitlocker because it probably has NSA backdoors and/or Microsoft backdoors etc.
Preferably something free and open-source. I've had a quick look round and there doesn't seem to be much else for Windows. Am I right?