Make the Dough - In a large mixing bowl, whisk together the flour, yeast, sugar, and salt. Add the milk and melted butter, and stir until a shaggy dough forms. Knead the dough by hand or with a stand mixer attached with the dough hook for about 5-10 minutes until it's smooth, elastic, and no longer sticky. Cover the dough with plastic wrap and let it rise in a warm, draft-free place for 1-2 hours, or until it has doubled in size. - Make sure the milk and butter are not too hot, or they will kill the yeast. The ideal temperature is around 110-115°F. You can use a thermometer to measure the temperature, or test it with your finger - it should feel warm, but not hot.
Make the Almond Filling - In a small bowl, mix together the almond paste and flour until smooth. Set aside. - If the almond paste is too hard or crumbly, you can add a teaspoon of milk or water to help soften it. Be careful not to add too much liquid, or the filling will be too runny and leak out during baking.
Shape the Kringle - Preheat the oven to 350°F. Line a baking sheet with parchment paper. On a lightly floured surface, roll out the dough into a rectangle about 14 inches wide and 20 inches long. Cut the dough along the short ends, making diagonal cuts about 2 inches apart. Spread the almond filling down the center strip of the dough. Fold the dough over the filling, alternating sides, to create a braided pattern - Use a sharp knife or pizza cutter to make clean cuts in the dough. Don't worry if the braided pattern isn't perfect - it will look beautiful once it's baked. If the dough is hard to work with or too sticky, you can chill it in the fridge for 20-30 minutes before shaping it.
Bake and Glaze - Transfer the kringle to the prepared baking sheet. In a small bowl, whisk together the egg white and water to make the glaze. Brush the glaze over the kringle, making sure to cover the surface evenly. Bake the kringle for 25-30 minutes, or until golden brown and crispy on the outside. Let it cool on a wire rack for 10 minutes before dusting the surface with powdered sugar. Cut into diagonal slices and serve warm or at room temperature. - Don't overbake the kringle, or it will be dry and tough. Keep an eye on it during the last 10 minutes of baking, and take it out once it's golden brown and the filling starts to bubble out of the edges. You can also add some sliced almonds or raisins to the filling if you like.