Advice repotting dendrobium division

Hi r/orchids! I purchased a pair of bare root dendrobium divisions yesterday and I want to plant them in semi hydro like the rest of my collection. I'm not sure how to pot [this division.] (https://imgur.com/a/gAMJj) My instinct is to pot it so the bulk of root growth is at or below the surface of the medium. However, potting it that deep would mean that the old cane is mostly buried in the medium and I'm afraid that the near-constant moisture will rot the old cane. On the other hand, I don't necessarily want to separate the old cane and deprive the new growth of its stored nutrients. Besides I'm not sure the old cane would put out any new growth and make separating the cane worthwhile. Any advice how I should go about potting up this division?