Bevel & Emboss is what eventually will allow us to make water bubbles in Photoshop – which really look like ‘wet’ bubbles!
So let’s enable the Bevel & Emboss effect and tweak it correctly. We’ll keep Style at Inner Bevel, and Technique at Smooth. We’re going to set Depth to 80%, Size to 9 px, and Soften to 3 px.
In the Shading section, set the Angle to 120 degrees, the Altitude to 30 degrees, and enable Use Global Light and Anti-aliased. The Gloss Contour can remain at Linear.
For Highlight Mode, it’s important that you select Normal and set the color to white (#FFFFFF). Opacity is 100%.
Switch Shadow Mode to Lighten and also select a white color (#FFFFFF). Opacity is 5%.