Tough to say really. We've dropped only 8 points this season and out of those 8 points, the only time we shouldn't have dropped points was at Swansea. Had we won that, we would be 8 clear now, which is a big gap but title race would be by no means over yet.
In any case, I would probably only think the title win might just be possible if we still have a decent gap, say 6-7 points, at the top after the Arsenal game in early Feb (just a side note, Liverpool play all the top 6 sides by mid-March). Next month is a HUGE month for us.