2. Select Elliptical Marquee Tool and hold SHIFT. Make a circle 180x180px and fill it with black.
3. Right-click on the circle layer and select Blending Options. Settings:



It should look like this so far:

4. Press CTRL+SHIFT+ALT to make a new layer. Select Magic Wand Tool and click on the circle of the first layer.
5. Now go to Select>Transform Selection and press CTRL+ALT and look at the INFO:
If you don't have this window go to Window>Info or press F8.
6. Click the upper left corner (Hold it) and drag the mouse so you have 152x152 pixels.

7. Fill it with color #0060c3

8. Right-click on this layer and select Blending Options. Settings:




It should look like this so far:

9. Make a circle 113x113px and set it in this position:

10. Make the foreground color #007acf. Now select Gradient Tool (G) and drag it from the top of the circle to the middle of the circle. Select the Blending Mode to Screen.

11. We'll now make a shadow under it. Select Elliptical Marquee Tool and make a small elipse like this: (Put it under the layer 1)

12.Go to Filter>Blur>Gaussian Blur - Radius: 14.0

We're done. Here's my final outcome:
