In football anything can happen even before kickoff of the UCL you had started to write off Arsenal because they would play Real Madrid of course on paper Madrid would have a better chance because the odd favor the team based on their experience in UCL, however I disagree with all those assumption and analysis when the two team meet in the quarterfinals it's going to be a different ball game and the outcome could go either way, I don't see anything special in the present Madrid squad they ought have been out of UCL against Atletico if not for the disallowed controversial penalty kick taken by Alvatez.
It is too early to write Arsenal off from the Champions League. It is not because Real Madrid played very well in the last match that they are still in the Champions League, they are just lucky in that match. Alvarez's misfortune is helping them to reach the quarter-finals of the Champions League. I would not like to sit down with pen and paper in such a big match. You definitely have to win matches like the quarter-finals on the field, if someone looks at the previous statistics and declares Real Madrid as champions, then maybe he is a blind fan of Real Madrid. They are under threat with their weak defense. Maybe Arsenal can use this weakness to knock Real Madrid out of the league.