It's really hard, Liverpool is better than Chelsea but Real Madrid have beat Liverpool in both legs. So I'm expecting Real Madrid will win with big margins in the first leg since it will played on Real Madrid's home. Chelsea doesn't need to win, they only need to make a draw at their best. Because if they get beaten with big margins, it will affect every players' psychology and think it's impossible to beat Real Madrid.
Even though Liverpool is also having a pretty tough season so far i still agree that they are still way stronger at the moment than FC Chelsea. Therefore it is definitely correct that Real Madrid is the very big favorite in the upcoming Champions League quarterfinal against Chelsea. That being said, i also don't really think that Real Madrid is that strong. The match up against Liverpool was pretty much decided already after the first leg even though Liverpool had a great start into that game so this was overall pretty weird. After their big lead from the first leg it was obviously very easy for Real Madrid to just get that lead over the line in the second leg.
So Real Madrid is definitely the big favorite, but they are also not extremely strong.
I always have strong confident while watching chelsea in any European competutions. The chelsea of Anceloti, Jose Morinho, Antonio Conte, Roberto Dimateo, and Thomas Tuchel, is the chelsea team that will set team's on disarray in every European outing. Compared to this current team is a different story. We have long waited for improvement yet, there is no Vigour in the team and as such will not be expecting any good thing from chelsea in the champion league this season.