Dendrobium Nobile Emperor Prince

[Singingirl96]

Ok.... so this is a nobile den. I've been instructed to stop watering it and forget about it until it blooms.
That is what I have done. I havent watered it since last month.
One of the old canes though is yellow and mushy. The other older one (not as old as the yellow one) is wrinkly. And the new cane is loosing all its leaves.
Is this ok? What should I do about the mushy one? Does this plant look ok to you?
Any help is much appreciated.