First of all, you are not taking enough test to even worry about much bloat unless you just naturally retain a lot of water. So if you stay with your current levels, don't even worry about it.
Secondly, yes you can stay cut while on good doses of test. Like many people said you will need to take an anti-e at mild doses. I like nolva because it just works wonders for me and my friends. It may hinder gains a bit, but that is debatable. It is true that your body uses estrogen to build muscle, but you don't need the estrogen levels of a female.
I am in week 14 or so of test enanth 850mg/week, EQ 550mg/week and fina 125mg eod. I take a nolva 10mg on m-w-f. I have lost at least 6% body fat and still put on a minimum of 12-14lbs. of muscle so far. The nolva has me shredded and I will never run another cycle without.
Good luck.