The veteran defensive back has been out of action for the past 10 days after spraining his foot during training camp.
"It's my feet, so I have to make sure I'm making a smart decision," Bailey told USA Today.
"There is a fine line there. You don't want to risk it getting worse, but I definitely don't want to miss any games, either."
Denver will be looking for revenge against the Ravens after John Harbaugh's side defeated them at Mile High Stadium in their playoff clash last season.