Bruce has been told by co-owner David Sullivan not to expect a new contract when Hong Kong millionaire businessman Carson Yeung pushes through a £50million takeover next month.
But he admitted: "It doesn't look good, so I know where I stand that's for sure.
"I've got 19 months to run so I'll just get on with it and see when the new people takeover exactly what plans they've got.
"I found out from Mr Sullivan on Friday the vibes coming back from the Chinese consortium were negative.
"I agreed a new contract with the board in May then went away on holiday and, all of a sudden, the club plunges into a takeover and there has been a block put on the contract.
"I have to accept the new owners have their own prerogative and I really haven't had any conversation with them.
"And until they takeover we'll see what happens. It doesn't look rosy."