It appears that Daniel was so stressed out over the vision, that he fell into a deep sleep, whereupon the angel came and awakened him, and he told Daniel that he would explain the latter end of the indignation, for it would be for the time of the end (Daniel 8:18-19). The latter end of the indignation concerned how long the wrath of God would remain upon the children of Israel (cp. Zechariah 1:12). While in some sense his wrath was lifted in order for the Jews to rebuild Jerusalem and the Temple, they never regained the autonomy they had prior to the Babylonian captivity, when they had a king. It seems that, from the time of the Babylonian captivity until the second destruction of Jerusalem in AD 70, one of the great beasts of chapter seven in the Book of Daniel always had the Jews in subjection to their interests. Therefore, the vision is in the context of the latter end of this indignation, and it is referred to as the time of the end (Daniel 8:18-19).
The angel told Daniel that the ram in his vision with its two great horns represented the kings of Media and Persia, and the goat represents the king of Greece. The great horn between the eyes of the goat was the kingdom’s first king (Daniel 8:20-21). However, at the height of his power, the first king would be removed and replaced by four kings who would divide the original kingdom in four, each having a share (Daniel 8:22). Nevertheless, in the latter time (H319) of their kingdom, referring to the last end (H319) of the indignation (Daniel 8:19), the transgressors or rebels (H6586) would come to fulfillment (H8552). At that time a king of fierce or powerful presence would arise, and he would be cunning in difficult and puzzling situations (Daniel 8:23). Unless we are to understand that Gabriel simply drew this king “out of a hat,” so to speak, because he isn’t referred to, as such, in the vision except here, then the king who would arise in the last days, who was cunning in his understanding of puzzling situations, must be the little horn of Daniel 8:9. He would magnify himself against the Prince of the host (Daniel 8:11; cp. 8:25), taking away the daily sacrifice and casting down the place of his sanctuary, whereby he causes fraud to prosper (Daniel 8:12; cp. 8:23-24).
The angel Gabriel went on to explain to Daniel that this king, whose power was in his cunningness, was, in reality, in his position of authority through the power of another (Daniel 8:24). Nevertheless, his destructive power would be great, and he would prosper in his power to destroy both the powerful and the holy people. Moreover, it would be through his wisdom, vis-à-vis his cunningness in puzzling situations, that he would cause fraud to prosper in his hand, and it is through this peace or sense of security that he would corrupt many. He shall also stand against the Prince of princes (the Messiah; Daniel 8:25), but he will be destroyed by the hand of God.
At this point (Daniel 8:26), Gabriel told Daniel that the vision of the evening and morning sacrifices was true, vis-à-vis the 2300 evenings and mornings, which he overheard the two angels discussing (cp. Daniel 8:11-15). However, the vision wasn’t for the present, but was rather for many days ahead, during the time of the end (Daniel 8:26; cp. 8:17). After the vision was over, Daniel became so weak and worn out that he had to rest for several days. After this, he once again tended to the king’s business in Persia, but he remained astonished over the vision. Moreover, no one, in whom Daniel confided the vision, understood its meaning (Daniel 8:27).