The Blues moves four points clear off Manchester United on Saturday, following their 2-0 victory over Wolves and United’s 3-1 defeat at Everton.
“We went into this game [against Wolverhampton Wanderers] knowing we had the chance to improve our position after the Manchester United result,” Ancelotti told Press Association Sport.
“The players were aware United had lost, and we managed to take advantage of the situation.
“We didn’t play that well, but we had a good spirit, battled for every ball and deserved the points.
“But there will be a lot of games between now and the end of the season, and nothing is decided at this moment. There are still a lot of points to play for.”