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We'll begin this tutorial, by selecting the "Elipse Tool" and drawing a circle as I have done below. Color does not matter. My canvas size is 294 x 168.

Now right click on the circle layer and select, "Blending Options...". Now click on "Inner Shadow".

You may now click OK.

You should now have the below image.

Now select the "Brush Tool" and set the foreground color to a7f0f7, and use the below settings.

Create a new layer and click toward the bottom of your circle as I have illustrated below. Two clicks should do it.

Create, yet another layer and with the "Brush Tool" still selected, click one last time toward the top of the circle. It's a bit bright right now so change the blending mode to "Color Burn" on that layer and turn the Fill down to 46%.

You should now have the following:

Create, yet another layer and with the "Brush Tool" still selected, click one last time toward the top of the circle again with White as the color while using the below settings.

You should now have the following:

Now, "Ctrl" click the circle layer to create a selection then go to the main menu and click "Select" then "Modify" and "Contract" by 3 pixels. Then Inverse the selection by going to the main menu and selecting "Select" then "Inverse". Now go to "Edit" and lastly "Cut".

You should now have the following:

Now select the "Eliptical Marquee Tool" and draw a selection like the below image. Create a new layer, then go the the main menu and select "Edit" then "Stroke". Choose White as the color at 1 pixel and centered.

You should now have the following:

Do this several times, on the same layer, till you get the below image:

Now go to "Filter" then "Blur" then "Gaussian Blur" and use the following settings.

You should now have the following:

Next, create another layer and select the "Brush Tool" with White as the color while using the below settings.

Click on the intersecting strokes as I have done below:

Do this several times, on the same layer, changing the brush size, on occasion, till you get the below:

Now, "Ctrl" click the circle layer again to create a selection, then click on the circular stroked layer to select it. Next, go to the main menu and choose "Select" then "Inverse" and lastly "Edit" then "Cut".

"Ctrl" click the circle layer again to create a selection, then create another layer and drag it so it's above all other layers in the layers palette. Using the "Brush Tool" with 3264af as the color and a brush size at about 25, begin to brush along the top and sides of the inside of the selection. Change the blending mode to Color Burn and turn the fill down to 27%.

Next, select the "Elipse Tool" and draw a circle as I have done below using Black as the color. Draw the below shape. This layer will go below the circle layer.

Then go to "Filter" then "Blur" then "Gaussian Blur" again and use the following settings.

The Results!!!

I hope you had fun and learned a little something from this tutorial.