Balloons in dreams represent creative freedom.
If your balloon is deflated, someone you look up to has disappointed you.
To dream that you are in a hot air balloon, suggests that it is time to overcome your feelings of depression. You need to rise about your current problems and reach a calmer, more spiritual place within yourself.
This dream may also suggest that you feel the need to be elevated in someone elseâs eyes.
Also see âWater Balloon.â