  Motivated by the recent discovery of superconductivity in twisted bilayer
WSe$_2$, we analyze the correlated physics in this system in the framework of a
continuum model for the moir\'e superlattice. Using the symmetries in a
fine-tuned limit of the system, we identify the strong-coupling ground states
and their fate when the perturbations caused by finite bandwidth, displacement
field, and the phase of the intralayer potential are taken into account. We
classify the superconducting instabilities and, employing a spin-fermion-like
model, study the superconducting instabilities in proximity to these insulating
particle-hole orders. This reveals that only a neighboring intervalley coherent
phase (with zero or finite wave vector) is naturally consistent with the
observed superconducting state. Depending on details, the superconductor will
be nodal or a chiral gapped state while further including electron-phonon
coupling leads to a fully gapped, time-reversal symmetric pairing state.
