Personally, I doubt that whether miners are profitable or not, or the extent of their profitability indicates where bitcoin is likely to go, even though I agree with you that some kind of decently sized correction could happen in the $25k to $30k range.  Part of the difficulty that we are having here is that BTC prices pretty much shot up from around $10k in early September to our present prices that are almost hitting $19k... and we have not had any kind of meaningful correction during that whole time.. so we have entered into the deadman's zone of $17,250 to $23,500-ish without any meaningful correction - which could end up throwing a monkey wrench into what would have otherwise been expected pass through behaviors within deadman's zone...

So, there you have it.. a kind of strange situation that continues to present UPpity dynamics, even though a downward correction is somewhat justified, too... but such downward correction dynamics does not seem to be as strong, currently, as the seeming need to visit ATH territories in the coming days.. maybe even hours, at the rate we have been going in the past couple of days.