Lyric discussion by Justinjah 

Cover art for Bleeding Out lyrics by Imagine Dragons

I get the impression that the singer is trying to "repair" the burned bridges between himself and someone he cares deeply about. He is willing to sacrifice everything to make things right again. "So I bare my skin and I count my sins" give me the image of someone removing their shirt to receive lashes, and each lash represents one crime against the other person. He is showing repentance for his sins. "So I close my eyes and I take it in" represents trying to forgive himself so that they can move on. Of course, I connect with that interpretation so that could be why I chose that approach.