Hey,
That third scenario you show doesn't match too much with the EW rules and Fib levels, as 4 overlaps with 1 (I know it's an approximation), but if it would have the 4 not overlapping with 1, wave 5 would end up around 3600 - 3700 levels.
The other 2 also don't fit too well with the usual Fibs for waves 1 to 3...
I would say this drop to under 5500 should be taken as part of a previous bigger wave, to fit in the usual Fib levels.
But just my opinion!
Cheers.