Ancelotti has high hopes for 2014.
"I am pleased with this first part of the season and I have high hopes for 2014," Ancelotti told the club's official website.
"The team keeps fighting, working hard and has a lot of quality. We have lost some points whilst looking to play the way we wanted. I think 2014 may be very good for Real Madrid.
"Five points aren't insignificant. (Sunday's) match was very important and we had a lot of pressure on us. We started this match eight points behind and it is not easy.
"At this point the table is clear. Barcelona and Atletico are doing very well. They have five points more than us and are the favourites right now, but I have high hopes for the second half of the season."