The lyrics speak of being rescued. The emotions and how they are sung seem to fit that as well. You could insert at this point what that might be but the main idea is that time is what rescued him/her. Reaching up and touching the sky is an interesting line with that said, to touch the sky requires one to look up. If you're looking up you can see more then looking down. When we look down our vision is limited. Reaching takes effort, so I think the whole point of the song is that time heals, don't get discouraged in what ever you are going through, reach up. Reaching up for me would be looking to God, trusting that he has a plan even if I can't see it yet. Looking up is choosing to believe and trusting that something good is ahead. It's far better to have something positive in front of you and to look towards that, as you do it helps you to see, to have vision so to speak. Time becomes precious when we realize that it can relieve the pain as we travel through it looking ahead to our future.