Well yes and no. If you configure snapshots within BTRFS like the tutorial I linked to you do not need Timeshift.
However, you can also just ignore the snapshot subvolume and configuring snapshots at setup completely, and just install Timeshift and choose “BTRFS” in the first-run setup wizard. Providing you have room on your / partition for snapshots, of course but if you plan to use snapshots you should.
Edit: Remember that if you use Timeshift with btrfs as the option you cannot have a separate /home partition. Even if you chose to not back up your /home.
I solved that by having an external 4TB drive I house media files (aka movies) on and that I also back up my images and documents to.
Edit again: I chose this because it is a clean visual GUI display of all current snapshots and free disk space. If anyone is curious I run 1 weekly, 5 daily, 3 hourly and 3 boot snapshots.
