When a price just breaks through all time high, the volatility at that time is very high and at such, it isn't advisable to jump in on a trade. First, I suggest taking a look at the volume. If the volume is dropping after it passed the previous all time high, then it's a sign that buyers are running out of steam (not guaranteed) and it's a good time to take a short trade. However, if price shoots past all time high and still keeps going with good volume and bullish momentum, don't go against the market by shorting (if on futures) or sell your asset on spot (if any).

Another option would be to use RSI indicator to guage when the price is overbought. Use alongside the volume to get a better result.