A balloon pilot is able to control the flight altitude with remarkable precision. You could say they have conscious control over every single metre of altitude. They can keep the balloon steady at, for example, 34 metres for a longer period, and then gently descend or climb higher.
However, they have no control over the direction or speed of the flight. That depends entirely on the wind. However, meteorological knowledge allows the pilot to estimate wind directions and speeds at different altitudes. In this way, by adjusting the altitude, the pilot can influence the course of the flight.
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