Time on a Button

When a user touches a button, is it possible to start a timer which stops when the touch is over? I am thinking of using the button press and timer values to branch within the app to give different outputs

you might want to consider looking into touch events if thats the case (like if you touch down on a particular location or ui element it starts the timer)
you will then also need to get a touch event when the touch has ended so you get can get how long has time elapsed since the town down option