Again, a definite step up.
There's this great negative shape now between the dragon and the slayer guy, I have to say that's 75% what was holding this image back before.
But what you also got from my edit was the sloppy shapes, which at that point was basically caffeine fueled greeble.
Trust me on this, it's not a concrete guide

It's still hard to tell where the limbs are on the slayer for example.
So you're gonna have to do some MASSIVE reduction IMO to most parts of the image to know that the features are where they have to be construction-wise and get the piece really polished.
Couldn't find a lot of useful tuts on edges that can really be pulled off in pixel art.
Just paintings that do them really well and in a way pixel art can accomplish.
Most of these were N.C. Wyeth's, there are specific examples by other artists but that should kick you off.
Last problem, this is also a big one, is the 2 focal points here need something to integrate into the BG. Those paintings can give you ideas on how to do that.
A lot of how they did that was by adding shape overlap or middle-ground stuff. (Like
this guy talking about Moebius, scroll down to where he talks about DEPTH INDICATORS.)
The rest of it was light on dark contrasts, that's another thing you can try working into this.
That's all I've got right now, pretty disjointed but should help. Keep going.