When presented with $\lim_{x\to a}f(x) = L$, we are usually taught to intuitively think of $x$ approaching the value $a$ from both sides, with $f(x)$ getting closer and closer to the value $L$. For example, to guess the value of $\lim_{x\to 3}(x+3)$, we plug in $2.9$, $2.999999$, or $3.01$, $3.00000001$, and see what happens. Or we draw a graph. This was in high school calculus.
However, when rigorously proving that a limit exists, the notion of 'getting closer and closer to a value' is replaced with $\epsilon$-$\delta$ language. Intuitively, given $\epsilon>0$, no matter how small your 'strip' is around $L$, if I can always find a corresponding strip which ensures that the values of $f(x)$ will be within the strip around $L$, then I've proven that the limit exists.
The rigorous definition requires that $\epsilon$ be given first. This makes sense. But if we challenge someone with $\delta$, and if our opponent fails to provide an $\epsilon$ so that $0<|x-a|<\delta$, wouldn't that prove that the limit doesn't exist? Why can't limits be defined this way instead of the other way round? I think this is more natural, because in the intuitive definition, we vary $x$ and observe what happens to $f(x)$. Suddenly, in the rigorous definition, we do the reverse: Pick values around $L$ and observe whether there are $x$'s which map to those values.
What is wrong with my reasoning?
Consider the counterexample $$f(x) = \begin{cases} \sin \frac{1}{x}, & x \ne 0 \\ 0, & x = 0 \end{cases}$$ and the limit $$L = \lim_{x \to 0} f(x).$$ Thus let $a = 0$. Under your characterization, given any $\delta > 0$, we can trivially find $\epsilon > 0$ such that $|f(x) - L| < \epsilon$ whenever $|x| < \delta$. For instance, set $\epsilon = 2$; then any choice of $L \in (-1,1)$ will satisfy this "reversed" situation, despite the fact that there is no actual limit. This is why the correct definition requires us to pick $\epsilon$ first, because that is the quantity by which the difference of the value of the function and its limiting value $L$ must be able to be made arbitrarily small. Saying that you are free to choose as small a neighborhood of $x$-values as you please (which is what we are doing if we choose $\delta$) does not guarantee that the function's values in that neighborhood will be increasingly tightly bounded around a limiting point.