Step 1 Make a new document about 400x400px and fill in black color as background color.
Step 2 Go to Filter>Render>Lens Flare...Settings: Brightness- 100% Lens Type- 50-300mm Zoom and make something like this. (the lens flares you have to repeat them manually)

Step 3 Go to Filter>Distort>Wave. Set the settings as the pic below:

Step 4 Then Filter>Distort>Polar Coordinates... Select Polar to Rectangular and click OK.
Step 5 You're almost done, just need to customize your color. Go to Image>Adjustments>Hue/Saturation... or Ctrl+U. Check the Colorize (the oranged).

Then you're done. Look at mine: