Yes, BRACELET is a Scrabble word!

Letter values in Scrabble US: B 3, R 1, A 1, C 3, E 1, L 1, E 1, T 1.

Is it a valid word?

BRACELET is a valid word in the official Scrabble dictionary (US), the UK Scrabble Dictionary and Words with Friends (ENABLE).

a band of cloth or leather or metal links attached to a wristwatch and wrapped around the wrist
jewelry worn around the wrist for decoration

Also: watch bracelet.

Not playable in Scrabble US: WATCHSTRAP.