The Greek champions started their Group A campaign with a fantastic 3-2 home victory against La Liga holders Atletico Madrid.
Michel's men followed up with a 3-0 win against Veria in the Superleague before defeating Panachaiki 1-0 in the Greek Cup.
However, Olympiacos travel to the Swedbank Stadion on Wednesday on the back of a disappointing 1-0 setback at Atromitos.
"[Atromitos] was an important game for us," he told reporters. "We saw it as an important game, we wanted to win.
"We have an obligation to win all games and now we play [another] important game, but [the loss] makes no difference.
"I am very optimistic [we can beat Malmo]. I believe that this is a unique opportunity that we have to start the Champions League with two consecutive wins. We are ready and we will try our best to do so."
Dimitris Siovas made an eagerly awaited comeback from a broken ankle sustained in January when he played in the Greek Cup, but a thigh injury rules him out against Malmo.
Age Hareide's men are playing a home match in the competition proper for the first time since November 1990 and, having not conceded at home during three qualifying rounds, Malmo will be confident of causing an upset.
Hareide's side are in good form domestically, Emil Forsberg bagged a hat-trick as Malmo came from behind to defeat Mjallby 4-1 at the weekend.
