I'm no expert on bulbos and have lost 2 so far...but...my bulbo medusae looked like it needed something more. I remounted it on a vanda plaque on a mound of spag moss and it is soaked everyday (it lives outside). It has rewarded me with 2 spikes that were a complete surprise to me. As the temps here in Florida are getting cooler I'll probably soak it every other or before it is dry.
You might try wrapping moss around your mount and tie it off with fine fishing line (monofilm) so there is more wet surface for your bulbo roots to cling to and stay moist rather than hanging from the mount.
The orchid case is normally 65-70F and 70% humidity, if I turn off the vent fan the humidity sets at 90%.
I always left the fan on low, because I didn't want to rot it.
In order to grow a Bulbo on a mount you would need daily water like a Vanda.
Two methods used in Florida (or humidity is not sufficient to grow them without a lot of water) is to first place them in a 6 inch basket and wrap it into a circle so that it is a bunched pot rather than the long growth.
The second method is to place it on a fern bark plank and submerge it into a tray of a half inch of water. The roots will grow into the bark at a level it likes and the water supply is constant