We study electronic ordering instabilities of twisted bilayer graphene with
n=2 electrons per supercell, where correlated insulator state and
superconductivity are recently observed. Motivated by the Fermi surface nesting
and the proximity to Van Hove singularity, we introduce a hot-spot model to
study the effect of various electron interactions systematically. Using
renormalization group method, we find d/p-wave superconductivity and
charge/spin density wave emerge as the two types of leading instabilities
driven by Coulomb repulsion. The density wave state has a gapped energy
spectrum at n=2 and yields a single doubly-degenerate pocket upon doping to
n>2. The intertwinement of density wave and superconductivity and the
quasiparticle spectrum in the density wave state are consistent with
experimental observations.Comment: 15 pages, 12 figures; updated discussion and analysis on density wave
state