The Reds are underdogs in the race for the final Champions League qualifying spot after Sunday's draw with Birmingham admitted the skipper.
"It will be difficult. We have the experience and we are hoping that will be vital in the end. But I think it will go down to the wire," said Gerrard.
"To give ourselves a better chance, we had to take maximum points against Birmingham.
"It's going to be really hard now. But I think what you notice is the race for fourth place seems to change from week to week.
"You have to look at the teams above us but they are the favourites and we are the underdogs at the moment.
"But we will keep fighting all the way to the end.
"That's what we said with six games to go. It's all right saying we will be fine if we go and win our last five games - but we have to go on the pitch and win them rather than talk about it."