To dream of balloons represents deflating aspirations and difficulty in life. Something in your life could spiral downhill. Balloons are also indicative of an overinflated ego. Black balloons signify depression, especially if they are falling to earth.
To dream of a rising balloon means that situations in your life are working to elevate above you. This is your inner yearning to break free of it. Balloons within dreams also signify gatherings and joyous parties. You should revisit your inner youth.
To dream about rising in a hot air balloon indicates an unlucky voyage.
If a balloon pops in your dream, this represents an aspiration that has not yet been realized. This could also be indicative of pressure in your life that is becoming unbearable.