Difference between if: else: and if: continue

Let's say I have an iterable: balls. I want to do something to all the balls in that loop that are not blue. As far as I see it I have two options:

Using if: else:

for ball in balls:
    if ball.blue:
        # can do something with blue ball
    else:
        # now execute code for all balls that are not blue

Using if: continue

for ball in balls:
    if ball.blue:
        # can do something with blue ball
        continue
    # now execute code for all balls that are not blue

To me there is no difference in what can be achieved with these two structures. Is there an intended difference?