Earlier quoted context omitted.
The situation is more convoluted. You are partially correct. The key sentence is this: " In the second place, the revocation of the notification of the intention to withdraw must, first, be submitted in writing to the European Council and, secondly, be unequivocal and unconditional, that is to say that the purpose of that revocation is to confirm the EU membership of the Member State concerned under terms that are un…
This is not my reading at all. It brings _the_ withdrawal procedure to an end - the procedure under Article 50 is terminated. It does not preclude starting another. Indeed, it would be contradictory - the purpose of the notice is to confirm membership is "under terms that are unchanged" -- if the State loses its right to invoke Article 50, the terms _have_ changed.
A new invocation of Article 50 can only be made as the start a new and completely independent process. Everything that has been negotiated and decided so far would have to be ignored.