Lee McCulloch admits the race for the Clydesdale Bank Premier League could go to the wire - but insists Rangers are still favourites for the trophy despite their Old Firm defeat.
A last-gasp winner from Jan Vennegoor of Hesselink secured a crucial 2-1 victory for Celtic when a draw would have been almost as good as a win for Rangers.
But the SPL leaders were hit with a sucker-punch deep into injury time, allowing Celtic to slash their lead at the summit to a single point.
Asked whether the balance of power is still in Rangers' favour, McCulloch insisted: "You could say that because we still have the games in hand and we are a point ahead of them.
"But there is a long way to go and no-one in the Rangers dressing room is getting carried away.
"It could go to the wire. It will be a big game when we come back here but we'll know what to expect and we'll definitely be up for it."
Both teams meet again at Celtic Park on 27th April and Celtic could have the psychological edge.
But McCulloch said: "They might look at it that way but we know what we have to do. Our heads won't go down just because we have lost in the last minute."
But the Ibrox midfielder knows a better performance, especially in the first half, will be required when they return to the east end of Glasgow.
"In the first half they were the better team and passed the ball a bit better," he admitted.
"They passed the ball better but they out-fought and out-battled us as well, which was strange for the current Rangers side.
"But we came in at half-time, re-grouped, and the manager had a few words to say.
"We went out in the second half and drastically improved and it was just a bit of bad luck that cost us.
"They scored the goal and have taken the points but it's not the end of the world."