Ancelotti believes a point against the Hammers would have been a fair result for both sides in a cagey game.
The Toffees failed to win their fifth consecutive Premier League game as Tomas Soucek’s late goal settled matters at Goodison Park.
Chances were at a premium for vast majority of the game, with only one shot on target before the interval.
Both teams lacked the cutting edge despite a much improved second half performance and the game was heading for a stalemate before Czech Republic international Soucek fired home after a huge deflection from Yerry Mina.
“It was not a good game. We didn't have opportunities or concede opportunities but unfortunately they had a lucky deflection and we lost the game,” Ancelotti said after Everton missed the opportunity to go second on the Premier League table.
“We could play with more intensity and quality in front but we have to accept this.
"A point was a fair result but in football sometimes you are unlucky. We didn't deserve to win, we didn't deserve to lose. We deserved a point.
"We had a fantastic period in the past and that won't affect our goal and belief for the end of the season."
The Merseyside-based side will have a week rest before they take on Rotherham in the FA Cup 3rd Round.
