Yes.
Obviously you can only run at, whatever 20A max, for as long as the battery can provide it at current state of charge. So, a 5Ah pack could sustain that for 5/20 = 1/4 hr or 15min. Enough for a few bolts, it would seem.
Power: as much as you can. For a given supply voltage, power goes up as number of turns in the work coil is reduced (and preferably, the capacitance is increased proportionally* to keep the operating frequency within range). You should probably have a means of controlling supply voltage (buck switcher), so it's not just full throttle as soon as you plug it in.
*Proportional to change in inductance. Which actually goes as turns squared, generally speaking, so you tend to need a huge amount more capacitance to do like one or two turns, versus three or four. At some point this is impractical, and you'll need a transformer to impedance-match the load, or a boost supply to get more input voltage.
But also not too much power, so as to honor the current rating. This can be improved by rebuilding the circuit with bigger transistors, heavier traces, more capacitors... Or same idea, get the bigger model (there's a 2 or 3kW version innit?).
Water cooling will be needed for the coil, even at fairly low power (100s W), and is a good idea for the power supply, too.
Tim