Bolchi started his coaching career in 1971 with Pro Patria, then a Seconda Categoria club (at the time, Seconda Categoria was the sixth level of Italian football). In 1974 he had his first professional coaching job at Sorrento. He first coached a Serie A team, Cesena, in 1982, but did not manage to save it from relegation. Since then, Bolchi made just two appearances as Serie A coach, despite his long career all over the country: in 1985-1986, his third season as Bari's boss which followed two consecutive promotions from Serie C1 to the top tier of Italian football; however, Bolchi was not able to save the biancorossi. In 1988-1989, he had his last Serie A job before 2007, as Pisa head coach, but he was sacked after the 22nd matchday.
On April 23, 2007, with just five matches remaining before the end of the league, Bolchi was appointed head coach of Messina, a team he already coached in their 1975-1976 Serie C campaign and, for six matches, at the end of the 2002-2003 season, in Serie B. He did not manage to avoid relegation, also due to Messina's poor league table well before his appointment, and finally retired from football after the end of the season.