And now Heskey is tipping Liverpool to reach the next phase by getting the required result in Basle in two weeks time.
He said: "It is still more than possible that we can reach the next round whatever happens in Moscow. Our destiny is in our own hands. If we beat Basel we are through.
"We can go and win there as well. We have done it before and can do it again. Valencia are a very strong side and proved themselves better over the two games, so that has to be a worry if we are talking about going all the way and becoming European champions as we would all like to at some stage.
"But you never know. As the tournament goes on and we get stronger and better, we can still really push for it and be a match for anyone. We can take heart from being in similar situations before where our backs have been against the wall and we have had to pull something out against the odds.
"It is just something we seem capable of. The pressure actually seems to bring out the best in our players. I don't think anyone is frightened by the challenge.
"We enjoy the pressure and there are examples from the recent past.
"Against Roma we needed to win the game by two goals and we deserved to pull off an outstanding win. Against Barcelona we got the win we needed when people had been having a go at us to reach the UEFA Cup final."
And the striker promised that Liverpool will go to Switzerland in positive mood, and in strong spirit.
If we play as well as we can, we can create problems for Basel," said Heskey.
"It might not be a bad thing to have to go there and need a win because our away record shows we are capable of that.
"We won't be negative. We'll be positive. We have a very strong spirit and I firmly believe we can go there and get the right result.
"We have to believe in ourselves over there and we will look at the way Valencia played and learn from that.
"People may say we are victims of our own success after coming a long way in a short time, but we don't mind those expectations. We have high expectations ourselves and want to do well for ourselves, the club and the fans so we won't use that as an excuse.
And Heskey says that Liverpool will not forget what was a 'sobering experience' against Valencia in midweek.
He said: "It was a bit of a sobering experience against Valencia. It is definitely a setback and we are all very disappointed.
"It shows us we still have a bit to do and you can see why they have been in two finals in three years.
"That is the standard we are looking at and it gave us something to aim for. I don't think we are too far away, just one or two things maybe still missing.
"It is difficult to pinpoint exactly what, but the manager will know and he will tell us. It might just be something like experience."