I genuinely don't know what to expect next season. I think there are plenty of good reasons to be very excited, but there are still a large number of things which could trip us up. I'll try to put them in a list.
Reasons we'll do well
1) Our attack. It was the second best in the league after Christmas, and with our players having come through the Euros (mostly) unscathed and with a full pre-season ahead of them, there shouldn't be a drop in quality. Given the fact that we'll have Mané and Ings as well, we should be perfectly comfortable up front. I can't be the only one who's incredibly excited by the form Origi showed towards the end of last season, and if he progresses even further this year things could be very interesting indeed. It's also worth pointing out that Sturridge hasn't been injured (properly) since February and despite a seeming loss of pace has still be scoring during that time. Keep him fit and we have a 20-goal striker.
2) Players returning from injury. A bit of crossover with the previous reason here, but it's not an insignificant point. I've already mentioned Sturridge and Ings, but we'll also have Gomez back, along with (fingers crossed) a Henderson who can show what he's capable of - once again - to the plethora of doubters he has amongst the fans.
3) Fewer games. As much as it is in the DNA of the club to be in Europe and those magical nights last season were something really special, it's also true that more time to prepare between games should improve our prospects in the league. The rotation and fatigue caused by our exploits in the Europa last season had no small effect on throwing away leads in a couple of games, and listless performances in a couple more. Without those, we would probably have made top 4 last season, so there's no reason we can't improve on that aspect this year.
4) The manager. Klopp should be well-adjusted to the demands of the league by now. It's worth considering that last season his time to adapt was severely curtailed by European and cup competitions, and when games are coming at the rate of 2 - 3 a week then there's not really much time to plan strategically. This season he'll have the dual advantages of more time and a season of domestic experience under his belt, and seeing the improvements he got from a number of our players whilst hugely overworked last year (Lovren, Origi, Allen, Sakho, Lallana etc) then it's a thrilling prospect to see how far he can push them now he has the opportunity to do so.
5) Upheaval at rival clubs. Next season, all of our close domestic rivals will either have to deal with an increased workload due to European football (sometimes for the very first time), the disruption that comes with a change of manager, or both. It's true that Guardiola, Mourinho and Conté are all formidable managers with unlimited budgets, but given the various different pressures placed on them at new clubs and the fact that two of them are experiencing the league for the first time, they may not provide instant success. Klopp is definitely worth including in that list in terms of ability and he has, as I've mentioned before, more time to plan for each game than any of his rivals.
Reasons we might struggle
1) Potential absences from key players. There's no guarantee that Sturridge or Henderson will be able to stay fit, or that they have returned to their pre-injury fitness levels. In addition to that, the threat of a ban is still hanging over Sakho, and both Matip and Mané might leave for a key period of the season to go and play for their countries. That's effectively the spine of the team with a big question mark over its availability.
2) Key weaknesses in the squad. While I think our attack is fine, there are some real questions still to be asked about the depth in quality of certain areas of the squad. I personally believe that Can/Henderson is a fine midfield pair, as I think Henderson will be playing further forward than we've seen him do for some time, but should one of those two get injured or banned our options in CM look rather thin, especially with Allen rumoured to be leaving. Likewise, should Sakho receive a ban, we're once again looking decidedly shaky on our strength-in-depth at CB; if Matip goes to the ACON we'd have Lovren and an injury-hit Gomez as our first-choice pairing. The jury is still out on Moreno's capacity for improvement, and whilst I am confident in his ability, there will be a lot of pressure on Karius to step up and perform from the very first day.
3) Potential strength of rivals. I know I spoke above about how there will be lots of change in the teams above us, but the fact remains that the prospect of world-class managers with huge budgets and some excellent signings already is slightly concerning. Add that to the fact Arsenal have finally brought in a CM worthy of the name and are seriously considering Lacazette, Spurs have continuity under Pochettino as West Ham do under Bilic, and the fact that any team in the league is capable of being a banana skin and it is clear to see that winning the league has just become a lot more difficult.
Conclusion
I'm an endlessly optimistic kind of guy and given the clear advantages we have in certain areas I'm sure that a title is not actually out of the realms of possibility. Obviously I'm not expecting it and I won't be throwing my toys out of the pram if/when it doesn't happen, because I think that Klopp is by far the best fitting manager we could possibly have and should be given as much time as he needs to bring the club to his way of playing. Remember it took Ferguson 3 years to build any kind of side at United, and it took Klopp a few seasons to bring success to Mainz and Dortmund. My hope for the season is that, if results do not go our way immediately, the more hysterical section of our support have the sense to keep their counsel for a while and look for the signs of improvement. Remember we have a very tough start to the season but if we can be within touching distance of the top by Christmas, the second half of the season is a lot easier on paper and we could be in with a very real shout.