If you want the hold state then it will be the state when you are in mousedown event state for a while. This state exists when you press mousedown but not mouseup. Hence you need to take a variable which records the current state of the event.

JS

$('div').on('mousedown mouseup', function mouseState(e) {

    if (e.type == mousedown) {

        //code triggers on hold

        console.log(hold);

    }

});

Working Fiddle