Playing the pc version and doing the Devil by the Well side quest and I cannot pickup the bracelet in the well after I jump in. I can see little white bubbles indicating its presence but no matter how I approach them I cannot pick the darn thing up. Is this a bug?

Use your witcher sense. The bracelet is the one highlighted in red when you do. You may be trying to pick up a wrong item.

The Witcher Sense is the Z key on pc's and I get nothing showing in red when I use it. I can just about make out the forearm bone with the bracelet attached to it laying amidst the white bubbles but I can't loot it. Had no trouble looting the small chest that was nearby. I have the proper software in place for my MS wireless laser mouse and it's working properly otherwise. This is frustrating.

Actually, the witcher sense is not the Z key as the maual says but a rc on the mouse. Once I did that I got the loot message, np.

The Witcher Sense key is whatever you map it to. Mine is mapped to the middle mouse button.