Bjelica watched on as his team were beaten 4-0 by a rampant Atletico side at Vicente Calderon, leaving them bottom of Group G with only one point and their qualification hopes all but over.
Having been thoroughly outplayed by their hosts, the Croat was forced to admit that his side, who are yet to find the net in this year's group stages, were second best for long periods of the game.
However, despite enduring a tough campaign so far, Bjelica also maintained that there are signs of improvement from his side.
He said: "Atletico were simply too good for us. They are a quality side.
"(But) I am convinced that we will not only score a goal in the upcoming matches, but we will also collect some points."
Arguably the one bright spot for Vienna was the performance of 23-year old goalkeeper Heinz Lindner, who despite being beaten four times produced a number of superb saves, including one to deny striker Diego Costa from the penalty spot.
Lindner, though, was under no illusions about the standard of his team's performance.
He said: "In the end we have to come to terms with the fact that we collected zero points from both games against Atletico.
"We wanted to play out of a compact defence and prevent conceding the opener for as long as possible.
"It was noticeable that Atletico play at a higher level than we do."
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