I have this bump on my chin and when ever i press down on it it kind of hurts, i've had these before and they just usually go away.

May be: A deep inflamed nodular cyst. Sometimes instead of whiteheads on the surface of the skin you can have deeper infection. You may want to try warm compresses on the nodule to see if it will drain. But I would try to avoid presses or "needling" these lesions. If it progresses in size or pain you should see your primary care doctor as it may require drainage or more aggressive treatments.