Yes you can

But only with a hair-thin slice of balefire

Why? Because the balefire should only be powerful enough to balefire you out of the pattern a few microseconds before, meaning you would have been around to create the balefire, but would have dissappeared sometime while the balefire was travelling from your palm to your body.

Any larger quantity of balefire won't work, 'cos it burns your thread before you create the balefire, meaning that nothing happens

Which goes to prove that its very hard to commit suicide using balefire