Having beaten Chelsea last weekend, Liverpool proved they should not yet be written off in the race for fourth in the Premier League.
Admittedly, it looks unlikely that anyone outside the current top five will finish in a Champions League position, but it is still not an impossible task. In fact, it's quite the opposite for Liverpool; it's an opportunity to reclaim their status as one of the big four against all odds.
Here are 10 reasons why Liverpool can still have a good crack at the top four and possibly enter next season's Champions League.
King Kenny is back in charge at Anfield and he's had an immediate effect on the team. The squad look as though they've just kicked off a new season as one of the favourites to finish in a top four position, when in all reality they're heading towards the run in of a season and are a long shot to finish in the top four.
Having managed the club before in the early 1990's, Dalglish knows the team inside out and is using that knowledge to his advantage.
With no worries of any additional European cup matches, or any domestic cups anymore, Dalglish is focussing all his attention on leapfrogging Tottenham and Chelsea. He's made a good start so far.
So he looks like a grumpy, American version of Bill Nighy, but John W. Henry is actually one of the key people in Liverpool's transformation.
Regardless of what they did on the pitch, under Gillett and Hicks, the club would always be struggling behind the scenes and therefore never be able to make up any real ground on their opponents.
While the new American owner may not even have the best knowledge of the sport, his experience in running a club from the top with the Boston Red Sox has been invaluable. Henry came in and steadied a Liverpool ship that was close to completely sinking. Now, with the support of fans, he's giving the club his full support to make a push to the top four again.
With Fernando Torres leaving the club, many Liverpool fans would have been worrying that they would struggle to replace the Spanish superstar. Liverpool then signed both Luis Suarez and Andy Carroll, neither of whom are as good as Fernando Torres (at least not yet).
With that said, it would technically be better to have two good (potentially great) strikers rather than one great striker.
The ability to spread out the play and link up together will have Liverpool fans licking their lips in anticipation for Andy Carroll's return from injury.
It's true when they say that the fans are the 12th man. The saying can hardly been understood any better than it is at Anfield as the Liverpool fans truly do act as an extra player.
The famous Kop stand is daunting enough for teams, despite having another three end's off the Stadium packed with Liverpool fan's to worry about.
While other teams no doubt have great support, it has long been known that Liverpool have some of the most passionate fans in the country, the type that will really help in a late push for a Champions League position.
With Andy Carroll and Luis Suarez looking to link up in attack, Liverpool's midfield will also provide a big threat to any team. The massively experienced pair of Raul Meireles and Steven Gerrard have been combining particularly well recently and look to be a big threat against the opposition.
If these two midfielders can continue to work well together in the center of the park when Carroll and Suarez are hitting in the goals up front, then Liverpool could prove to be an even tougher team than they already were.
Meireles is on top form at the moment and if he can remain this way until the end of the season, Liverpool definitely have a real shot at the top four.
It's true when they say that a club's history has no influence or affect on the way they perform in the present. It's also true however that a club's past can affect the mentality of players.
In Liverpool's case, they'll be quick to accept that they're not the same team that won the Champions League six years ago. They will however know that they have the ability to qualify for the Champions League which could play a big role in the run in to the end of the season.
Having beaten Chelsea last weekend, Liverpool managed to take advantage of three of the top five dropping points. Only Tottenham and Manchester City achieved all three points over the weekend, making the top of the table even more exciting.
Chelsea have been struggling for form recently and despite a few good games, they still seem to be missing some belief by the looks of their game against Liverpool. Tottenham, meanwhile, have been struggling defensively with injuries and still have to fight on in three different tournaments with their problems.
If Liverpool can capitalise on the weaknesses of their nearest challengers, then there's no reason that they can't jump into the top four once again.
Liverpool have managed to prop themselves up in what will no doubt eventually turn out to be a Europa League qualifying position without having found their best form.
Only recently have the club been getting back to top form, at the most vital point of the season. While many of the other Premier League teams will be getting tired and making mistakes, Liverpool have the confidence and now the belief that they can make the most of this.
Liverpool have nothing left to lose at the moment if they finish where they currently stand in the table. They don't currently compete in the Champions League and are out of both Domestic Cups, giving the club a chance to push on and focus on the Premier League.
If the club don't qualify for the Champions League this season, they'll not be in any worse position than they were before, and they'll have all summer to prepare for the following season.
With this in mind, the club will be able to go for it with regards to the top four, while all the other challengers are still fighting on in other trophies.
With Fernando Torres gone, Liverpool can finally stop their over reliance on the striker.
Most people wouldn't expect that selling a 'star' player would increase a teams chances of reaching the Champions League, but with an unhealthy over reliance issue now finished, Liverpool have the chance to rebuild their squad to play as a team.
Although they still have Steven Gerrard, the recent arrivals of a number of other players will also mean that the team don't rely too much on any one player any more and instead play as a unit to achieve their one goal.