Answer:
BOTH are important. Contrary to popular belief, JESUS' BLOOD (His death) DOESN'T SAVE US... it "justifies" us. It's the fact that He is now ALIVE that "saves" us.
"...God commendeth His love toward us, in that, while we were yet sinners, Christ died for us. Much more then, being NOW JUSTIFIED BY HIS BLOOD, we SHALL BE SAVED (future tense) from wrath through Him. For if, when we were enemies, WE WERE RECONCILED TO GOD BY THE DEATH OF HIS SON, much more, being reconciled, WE SHALL BE SAVED BY HIS LIFE." (Rom.5:8-10)
We could never achieve eternal life until, first, we have all of our PAST SINS blotted out by the POWER of Jesus' blood... and the penalty of death for having transgressed God's Commandments (which is what sin is) - revoked.
"...Being justified freely by His grace through the redemption that is in Christ Jesus: whom God hath set fort to be a propitiation through FAITH IN HIS BLOOD, to declare His righteousness for the remission of sins THAT ARE PAST, through the forebearance of God..." (Rom.3:24-25).
All of mankind is living on "death row" for breaking God's law... but the Governor is able to "PARDON" anyone who repents of breaking the law via the shed blood of God's Son.
But, once forgiven... once pardoned by the Governor - the new lease on life we are given is EXPECTED TO BE LIVED WITHIN THE LAW.
And Jesus living in us - "within the law," in accordance with the Word of God - BECOMES OUR NEW LIFE.
Jesus' blood justifies us with the law. But we can't hang around at the foot of His "stauros" (cross) where is only death. He rose again... and a vital new life is to be lived IN HIM.
His death AND resurrection are BOTH VITALLY IMPORTANT! If His death saved us... there would be no purpose to resurrect.
"For if the dead rise not, then is not Christ raised: and if Christ be not raised, your faith is vain; YE ARE YET IN YOUR SINS." (I Cor.15:16-17)
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