City secured a place in the last 16 for the first time as they crushed CSKA Moscow 5-2 at the Etihad Stadium.
Alvaro Negredo claimed a hat-trick and Sergio Aguero also struck twice as City made sure of at least second spot in Group D.
When asked if the performance provided evidence City could trouble any team, Pellegrini said: "I think so but, at this level, also every team can beat us.
"There are some important teams in Europe but I think we have a strong squad and we'll see where we can go in this Champions League."
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