Can the "eye" of an orchid develop on its own?

[Bulbofett]

I keep seeing everyone talking about the eye of the orchid. I think I found one on a plant I'm trying to rescue. If it ever gets blooming again it will be one heck of a show, so I'm keeping my fingers crossed.

Unfortunately I don't have any keikei paste to apply to it. I soaked it in seaweed water when I brought it home. Then placed it in a bag with sphagnum. That only created mold so I took it out and have been misting it everyday since while it sits on a heat mat.

I just today noticed this little bump and I'm thinking it is the eye everyone talks about. What should I do from here to encourage a root?

	Mistking Looking for a misting system? Look no further. Automated misting systems from MistKing are used by multitude of plant enthusiasts and are perfect for Orchids. Systems feature run dry pumps, ZipDrip valve, adjustable black nozzles, per second control! Automatically mist one growing shelf or a greenhouse full of Orchids. See MistKing testimonials