"Through fire and water" [Gandalf / Balrog] by Anato Finnstark
Source: Through fire and water (by Anato Finnstark - ArtStation)
It looked like Gandalf and Balrog to me; I found the confirmation in the tags:
ArtStation profile: www.artstation.com/anto-finnstark
RSS Feed: anto-finnstark.artstation.com/rss

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