The invention discloses a movable steel arch bracing trolley comprising a lower stand, an upper support, a plurality of deformable wheels for supporting the lower stand and driving the lower stand to move, and a steel arch jacking system; the steel arch jacking system comprises a jack unit I which is installed between the lower stand and the upper support for jacking the upper support and a jack unit II which is installed on top of the upper support for jacking a steel arch; both the jack unit I and the jack unit II comprise one or more jacks; the deformable wheels of the trolley are able to deform by driving a certain mechanism, so as to greatly increase the trafficability characteristic of the trolley; while traveling on ordinary roads, the deformable wheels can be kept round, allowing a pile driver traveling steadily at a high speed.