Sure. Note that you can disable CoW for databases and virtual machines on btrfs, so using them with btrfs is not a problem.
For setup you describe, format your root partition with btrfs. Choose to create subvolumes and choose manual mode. Create subvolume @ for /. Then, after mounting /boot/efi, choose to mount additional partitions. Choose xfs and mountpoint /home.
In mkinitcpio.conf, add fsck hook.