What sounds better?

Far along the open channel,
The future held its breath,
Waiting for today to live,
And tomorrow for it's death.

 OR

Far along the open channel,
The future held it's breath,
Waiting for it's time to live,
And the next day for its death.

I feel like the first one sounds better, but the second one makes more sense in a logical way in my mind, what do you prefer?