Circinus X-1 (Cir X-1) is a neutron star binary with an elliptical orbit of 16.6 days. The source is unique for its extreme youth, providing a key to understanding early binary evolution. However, its X-ray variability is too complex to reach a clear interpretation. We conducted the first high-cadence (every 4 hr, on average) observations covering one entire orbit using the NICER X-ray telescope. The X-ray flux behavior can be divided into stable, dip, and flaring phases. The X-ray spectra in all phases can be described by a common model consisting of a partially covered disk blackbody emission and the line features from a highly ionized photoionized plasma. The spectral change over the orbit is attributable to rapid changes of the partial covering medium in the line of sight and gradual changes of the disk blackbody emission. Emission lines of H- and He-like Mg, Si, S, and Fe are detected, most prominently in the dip phase. The Fe emission lines change to absorption in the course of the transition from the dip phase to the flaring phase. The estimated ionization degree indicates no significant changes, suggesting that the photoionized plasma is stable over the orbit. We propose a simple model in which the disk blackbody emission is partially blocked by a local medium in the line of sight that has spatial structures depending on the azimuth of the accretion disk. Emission lines upon the continuum emission are from the photoionized plasma located outside of the blocking material.
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