Bandage remove bleed only to yourself so u don't need the olympiad host but i suggest u to use common craft instead of bandage (It's faster and it don't use mana). Basically u have to:
-Wear Demon Robe Set (Max HP -270, INT+4, and WIT-1.) and homunkulus conversion. If u have valakas unequip it.
-Sign at oly.
-When u are in get haste, berserker, death whisper and wind walk.
-Use staff of evil spirit bless the body and focus to take these buffs (Using Common craft to make it land).
-Wear Doom Heavy set (Max HP +320, Breath Gauge increase, STR-3, and CON+3)
-Equip an Health weapon
-Equip Valakas Necklace (If u have)
-Use Over the body, zealoth, frenzy and rage.
-Start to attack Olympiad Host and change your armor.
-Use lionheart and braveheart.
-Take the last buff from olympiad host and go on your enemy.
-Kill him with one hit.
:D