First--agree with many, it does sound like tendinitis of some sort; ease up, alternate ice and heat, NSAIDS if your stomach can take them.
Next is bike fit:
I've fitted a million people on bikes, Fit Kit certified, specced a bunch of custom frames, all that jazz. Easy, basic rule: If your knees hurt in the front, your seat is too low; if they hurt in the back, it's too high. This is incredibly general, obviously. You also need to be positioned correctly fore-aft. Usually, this is determined with a plumb line from a point just below your kneecap.
There are a lot of newfangled electronic fitting devices out there--higher end shops make a pretty nice profit with these. They work--but if you can find a good shop with an old guy who knows how to do it from experience...
What kind of pedals do you ride? How about your shoes? For people with persistent knee issues, I always recommended Speedplay pedals. A few years ago, I had knee surgery, and followed my own advice. Speedplays rock.
FWIW, per 1958Bassman's post, I had Osgood-Schlatter as a kid--in my case, it brought a distinct, burning type of pain.