The recommended approach to withdraw your bid is to edit your bid and update the description to "Please withdraw bid", you can also set the pricing to zero. Bids can be edited from the Bid's I've Placed page. There is no way to delete a bid at present.
The task owner will be notified via email and can delist your bid which will move it to the delisted tab on the task details page.
Alternatively you can always decline the task if it's awarded to you.
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