Are you going to colour this, too? If so I look forward to that. c:
But you asked for a bit of critique so I'll try my best to help. I like how the sleeping form is drawn, but the pose of the dreamstate looks very stiff and mechanical. Her arms are too locked, and her one leg follows more or less the same line as her arms, which makes for a very linear line of action. All in all while she certainly looks happy, her pose doesn't really look too comfortable.
I'm not sure if I linked this before, and considering my swiss cheese memory that's not out of the ordinary, but this site is awesome for pose reference: Posemaniacs.com
I suggest adding a bit more bend to the outstretched arm so it isn't so ramrod straight and maybe changing the position of the legs so they're a little less awkward. As for the anatomy, while her torso is drawn alright, there's some iffiness happening with her legs and I am very confused. Her outstretched leg looks like it's a little longer than her other leg, and the knee is at a strange spot. And there's an extra line going on that's sort of adding to the confusion.
Other than that, you have a good base image planned. If you'd like I could do a quick redline to show you the problem areas, but I don't have time tonight. I could give it a shot tomorrow, but only if you allow me to.