Hoo boy. How could we possibly tell? ITBS is just one of a number of possible complaints on the outside of your knee. No one here can diagnose it, especially not with a picture with an arrow on it. See your doctor.

FWIW, when my IT band was causing problems it was not just pain on the outside of the knee, but nasty cramps on my thigh when I tried to swing my leg over the saddle when dismounting after a hard ride.