Of course, you are absolutely right. I don't want to dispute your assumption in the slightest because it is true that Liverpool should not underestimate Newcastle in the slightest in this match. Even though Liverpool played in front of fans at home, Newcastle was a good team that was not beaten easily.
I'm sure Liverpool will definitely play a match full of pressure. They are desperate to maintain top spot with Manchester City too close, so it might be interesting if Newcastle score an early goal to take the lead. Liverpool has great potential to win, but who knows, maybe Newcastle can surprise with a good performance at the start of the year.
Newcastle have lost to Luton and Nottingham Forest which we thought the Magpies would win but they lost.
Now against Liverpool, there are certainly many home favorites and seeing Newcastle often lose, even this could be a mere reject where Liverpool should not underestimate it could be that Newcastle's game increased because they played with pressure.
Well we can't deny it, most people will predict Liverpool to win, so I also bet on the home team.