Can I use the walkie-talkie feature with just Bluetooth?

The Walkie-Talkie app is a FaceTime audio connection with Push-to-Talk microphone activation.

Bluetooth my be involved, but only to relay via your iPhone.

FaceTime audio calls need Internet access. If your Apple Watch has WiFi access to the Internet, it can use that. If you have cellular access, you can use that. If your iPhone is nearby you can use that. The Apple Watch and iPhone gets to choose how it connects to the Internet.

Bluetooth® can turn a smart phone into a walkie talkie. ... Like a regular two-way radio, a this type of walkie talkie does not work over long distances and can only be used between two devices that are both equipped with the application. A Bluetooth® app can replicate the function of a walkie talkie.

Thanks