Well....you are obviously taking in too many calories to lose weight so drop the cals.
I'd add some healthy fats into the diet....fish oils, Udo's, nuts, nut butters, avocados, etc. And you need vegetables....many. Vegetables literally help transport nutrients around the body.
With the amount of protein you are intaking I think when you drop the fat you are losing minimal muscle. I think you think you are losing more than you really are.
It's a pretty good plan....just cut out some cals. I suggest you drop fruit and dairy if you hold onto water easily.
And of course you will need to add some cardio.
So instead of cutting out carbohydrates which will cause you to lose weight quickly.....but mostly water weight....just cut overall calories instead. That way you will lose fat slowly.
So...
1) cut calories....500-1000
2) more veggies and healthy fats
3) keep protein high and keep working out as hard and heavy as you can
4) put in some cardio if you haven't already
At this point in time there is no need to drop carbs or carb cycle. You can lose weight just fine by cutting calories without dropping carbs drastically.