The top curve denotes the state of deep sleep. This is where the sleeper is subconsciously shutdown, desiring nothing and having no dreams.
The Waking State
Represented by the large curve, this state of consciousness is turned outwards and experiences the world through the five senses. This is the most common state of human consciousness.
The Dream State
The middle curve, which lies between deep sleep and the waking state signifies the dream state. In this state the consciousness is turned within, and the dreamer experiences a world behind closed eyes.
Illusion/Maya
This is what gets in the way of our spiritual development, preventing us from the realization of the highest state of bliss (the dot above this curve). This semi-circle doesn't touch the dot, meaning that the highest state of consciousness is unaffected by Maya.
The Absolute State
The dot signifies the absolute state of consciousness. In this state the consciousness looks neither outwards nor inwards. This utterly quite, peaceful and blissful state in ultimate aim of all spiritual activity.
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